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Reversing an Electronic Payment

MargT

I have followed the steps to Reverse a Transaction but now I am stuck.

The original transactions were electronic payments. The Bank Statement is showing them as a credit as the bank rejected them as they had the incorrect bank details. Now the reversals are showing in my Prepare Electronic Payments folder. What do I do from here?

Thanks.

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Accepted answers

LRBooks61

Yes that was the correct way to do it

Processing the payment /reversal is how MYOB creates the transaction for you

Great job

Lisa

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MargT

Thanks Lisa.

So I selected Prepare Electronic Payments, then chose the reversal followed by Bank File. No Bank File was created. It was then sitting in my Bank Reconciliation and I could complete my bank reconciliation.

This was the correct way to process the transaction?

LRBooks61

if you prepare the electroc payment for the reversal - it only creates the bank file , you don't need to upload it.

This will put the transaction into MYOB and you can then match it in your bank feed

Hope this helps

Lisa