Forum Discussion

DanielleSwift's avatar
2 years ago

Bounced payment to supplier due to incorrect bank details

Hi There,

We have received the amount of a purchase back in our bank account due to incorrect bank details being used, and the purchase is showing as closed - what is the right way to corrct this?

Many thanks,

Danielle

  • Hi DanielleSwift

     

    Thanks for your post.

     

    In this matter that the purchase is already closed, you can reverse the transaction and after reversing you will be able to change your bank details.

     

    We will need to check the setup first by going to: Setup>>Preferences>>Security Tab>>select the Transactions CAN'T be Changed; They Must be Reversed option>>Click OK

     

    After changing the setup, you will be able to reverse the transaction: Go to Purchases>>Purchases Register>>Go to Closed Bills>>Click the arrow to Open the Bill>> Right-click to Reverse the transaction. You can now edit your bank details on the Open Bills.

     

    Also, since we reverse the transaction in your bank account (bank feeds) you will see the original withdrawal, the bounced back deposit, and the second withdrawal for the correct payment.

     

    You will need to match these transactions:

    • The original payment transaction needs to be matched to the original bank feed withdrawal.
    • The reversal needs to be matched to the bounced-back bank feed deposit.
    • The second payment transaction needs to be matched to the second bank feed withdrawal.

     


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

     

     

    Cheers,
    Leneth