How to allocate -Reversal of Direct Entry

Hi Anil7852, 

Thanks for posting your concern in the forum. 

I understand how important it is that transactions get matched to the bank feeds. May I ask for screenshots of how these transactions look like from the Bank Feeds window?  Any additional relevant information would be much appreciated. 

We look forward to your response. 

Thanks,
Genreve

Dear Genreve, 

Here it is.

The payment was made on 31/10/2023 and bounced back on the above date. 

Now how can I allocate this amount? Really need a help 

Hi Anil7852, 

Thank you for the response and the attached snippet. 

Unfortunately, I will need to see all the transactions connected to this payment in the bank feeds and in the pay runs. As we will need to match the bank feeds to the pay runs/pay run reversals in the system. If you feel that the information on those screenshots is sensitive, feel free to send the screenshots in a private message instead. 

We look forward to your response. 

Thanks,
Genreve

Hi Anil7852, 

We haven't received any updates from you regarding your concern since Wednesday. 

Feel free to provide more information regarding your concern if you still require any further help. 

Thanks,
Genreve

Dear Genreve, 

I can not share all the files due to security reasons, however, I can explain again to make it clear.

We had an invoice, we made a payment last month and reconciled it as paid, but it bounced back to our account later this month cause there was an issue with the bank details.

Again we made a payment which is successful.

Now, how can I allocate these two payments I mean one bounced bank amount and another one that we made after bounced back to us.

We already reconciled the invoice earlier and made it paid. 

How can I work in this case?

Here find the attached.

Hi Anil7852, 

Thank you for the response and the screenshot you've attached. We appreciate your efforts in clarifying the concern. 

The bank feed transactions show what happened in the bank. In this case, you processed a payment that was successful. This payment has bounced back, resulting in a bank feed transaction that has the same amount as a debit. 

To match the bank feed transaction, you will need to create a reversal transaction to match that debit transaction. This can be done by going to the Preferences > Security tab window and marking the option "Transactions CAN'T be Changed; They Must be Reversed [System wide]". This would allow you to reverse the transaction, which will record a transaction with the opposite values of the initial transaction.

Also, I suggest reading through this article, Reversing a Transaction. This would help in the process of creating a reversal. 

I hope this answers your question. Feel free to let us know if you require any further assistance with this. 

Thanks,
Genreve

Hi Anil7852 

Thanks for the response and I understand how confusing this is if you are new to using the software. 

Unfortunately, I could not send you a video regarding this. However, I could create an easier step-by-step process you could follow. 

Here are the simple instructions you could follow for creating bulk payments for purchase bills. (feel free to let me know if you have issues understanding any parts of this)

1. Open the bill you need to include in a bulk payment.
2. Click the payment button
3. Process the payment as normal and make sure to mark the "Electronic Payment" button check.
4. Follow steps 1-3 on all bills you want to include in the bulk payment.
5. Go to the "Prepare Electronic Payment" window (Banking > Prepare Electronic Payments),
6. Create the electronic payment. Make sure to choose the right bank account, add the right date, and mark all the transactions included in the bulk payment.
7. Click the Bank File button. (this will then record the payment going from the "Electronic Clearing Account" to the bank account of choice)
8. After following the process, this will result in all bills being paid and having one debit transaction for the whole payment in the chosen bank account.

If you still have confusion, feel free to ask your specific issue and we'll provide further help.

Let us know if you require any further assistance with this. 

Thanks,
Earl