BANK FEEDS UNALLOCATED TRANSACTIONS

q_man_snowflake

Good afternoon

 

needing a little help please in reference to outstanding cheques listed in bank feeds that have been reversed in payroll. a group were entered twice (16/12), and the others were also reversed but still showing (21/12).

 

The arrow on the left is faded out grey. I have just opened the transaction and click to Reverse Transaction and a pop up window shows:

 

'This pay is a reversal. If you record this pay, the payment method used will be cash. 

Do you want to continue.'

 

is this the correct the best way to clean this up?

 

look forward to your feedback.

Earl_HD

Hi @q_man_snowflake,

Thank you so much for your post and my apologies for the late response. Yes, you're on the right track. If the payment being reversed is a cheque or electronic payment, a message will appear, indicating it will be recorded as cash. Please select "Yes" to proceed.

Click "OK" to confirm when prompted by the following message:

Click Record to process the reversal.

When prompted to declare the reversal to the ATO, enter the name of the Authorized sender and click Send.

Please do let me know how you go on this.
Regards,
Earl