Reversing an electonic payment to receive funds.

ANoakes

Hello

In December we incorrectly paid a supplier with many others in our regular payment run through Electronic banking.

The payment was reversed.

The reversal now sits in Prepare Electronic Payments as a negative amount.

 

In January the supplier returned the funds and the deposit is sitting in our bank feed.

 

How do I marry the two transactions?

 

Regards

 

Elizabeth

 

 

Steven_M

Hi @ANoakes 

 

Sounds like you have done most of the hard work and reversed out that payment.

To deal with the bank feed you would want to complete the following steps:

1. Navigate to Banking>>Prepare Electronic Payments
2. Tick the necessary negative transaction. You will encounter a message similar to the following - select OK.
   
   
   
3. Select Bank file on the Prepare Electronic Payments window. This will process a transaction to the bank account for that amount (a deposit).
4. Once you have dealt with that payment it will then be a matter of going to Banking>>Bank Feeds.
5. Navigating to the payment and selecting Find.
6. Choose that transaction you have recorded and selecting Match & approve.

Steps 5 and 6 are optional steps depending on your settings.

 

The above process generates a withdrawal in the bank account from that negative payment in the Prepare Electronic Payments window. This withdrawal can then be matched to the bank feed transaction.