outstanding electronic payments

Question

Hi

I have pending one electonic clearing payment that has shown when we have reversed super payment becuase of one of the employees super went to wrong account. So we have reversed that period of the transation and process again.

How can I get rid of that electonic payment without effecting my bank and others accounts.

I have attched the screenshot for the ref

electronic clearing payment.JPG

Tracey_H · Answer

Hi @Mustarin

Transactions that have Electronic payment ticked or the Pay from Account is the electronic clearing account will be listed in the Prepare Electronic payments window. Clicking on the zoom arrow for a transaction in the Prepare electronic payments window opens the recorded transaction. This is the Pay Liabilities transaction in your screenshot which has the electronic clearing account selected as the Pay from Account. This transaction has already been recorded so needs to be processed out of the Prepare electronic payments window.

To move that transaction from the Prepare electronic payments window you need to record the electronic payment transaction. This moves the amount from the electronic clearing account to the bank account. If you changed the Pay from Account in that Pay Liability transaction you would need to select a different bank/clearing account, which will create an out of balance in that new account.

The original Pay liabilities transaction would have appeared in the Prepare electronic payments window for processing. Reversing that Pay liabilities transaction would be put the reversal transaction in the Prepare electronic payments window. Reprocessing the Pay liabilities transaction would put that reprocessed transaction in the Prepare electronic payments window.

When all three transactions have been recorded in Prepare electronic payments the bank account will have:

* original electronic payment transaction (EP000062)
* reversal electronic payment transaction (EP000063)
* second electronic payment transaction (EP000064)

The original transaction, EP000062, and the reversal, EP000063, clear each other out and should be manually reconciled in the Reconcile accounts window by ticking both transactions. Or if the payment was made and returned you would match the original payment with the bank feed withdrawal and the reversal with the bank feed refund transaction.

The second electronic payment transaction, EP000064, is then matched with the bank feed transaction. If you have reconciled the bank feed transaction it indicates that another transaction was recorded for the payment. You will need to check what the bank feed transactions were matched to. If a Spend money transaction was recorded for the second payment it will need to be deleted. You will then need to process the electronic payment transaction, undo the bank reconciliations and redo the bank recs.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Mustarin · Answer

Hi Tracy

Thanks for your reply, My bank is reconciled and there is no outstanding transition in the bank.I must be fixing from the Pay liability option. when I click that payment I come up with a pay liability window which i have attached a screenshot.If I process this will it solve the problem?

Pay Liability.JPG

Tracey_H · Answer

Hi @Mustarin

Thanks for your post. When you processed the original electronic payment transaction the payment amount was moved from the electronic clearing account to the bank account. The electronic payment then appears as a withdrawal in the bank account.

When the super payment was reversed the reversal would have appeared in the Prepare electronic payments window. Ticking the reversal and clicking on Bank file records the transaction which moves the amount from the electronic clearing account to the bank account. This appears as a deposit in the bank account and clears out the original withdrawal.

You would then need to reprocess the payment transaction and record the electronic payment transaction. This will appear as a withdrawal in the bank account for reconciling/matching with the bank feed.

Looking at your screenshot the reversal has been processed out of the Prepare electronic payments window so you would need to record that second electronic payment transaction in order for your bank account to reconcile. I'd recommend checking how the original transaction and reversal were reconciled, was another transaction recorded to match with the second payment?

Please let me know how you go.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.