Forum Discussion

Happygirl's avatar
Happygirl
Experienced User
3 years ago

Clearing negatlive value in electronic payment file

I have a negative value transaction sitting under Prepare Electronic Payment.. please advise how we can correct these enteties.     This occurred when errors were identified in the first .aba file ...
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi Happygirl 

     

    Thanks for your post. This post, Reversals in the Prepare Electronic Payments window, has detailed instructions to handle this situation.

     

    If the original payments were processed and removed from the Prepare Electronic Payments window, tick the reversals, click on Bank File and record the transaction. You will then be able to tick the original electronic payment transaction and the reversal in the Reconcile accounts window to manually reconcile and clear those transactions. 

     

    The second electronic payment transaction can be matched with the bank feed transaction.

     

    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.

Tracey_H's avatar
Tracey_H
Former Staff

Hi Happygirl 

 

Thanks for your post. This post, Reversals in the Prepare Electronic Payments window, has detailed instructions to handle this situation.

 

If the original payments were processed and removed from the Prepare Electronic Payments window, tick the reversals, click on Bank File and record the transaction. You will then be able to tick the original electronic payment transaction and the reversal in the Reconcile accounts window to manually reconcile and clear those transactions. 

 

The second electronic payment transaction can be matched with the bank feed transaction.

 

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.

Happygirl's avatar
Happygirl
Experienced User
3 years ago

Hi Tracey_H 

 

Thanks you so much for you response.

 

Perhaps a silly question  - but which account should I be using for the "Pay from Account" noting that an actual transaction was not physically processed in our bank account. 

 

If I use the Bank account (where the intial payment would have been made from) it is distorting our bank account balance given the initial transaction was not actioned or processed. 

 

Hopefully this makes sense! but let me know if you require clarity.

 

Thank you

  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi Happygirl 

     

    There's never a silly question. The Pay from account should be the same bank account. In this example I paid a supplier and processed the electronic payment, EP124, which shows as a withdrawal in the bank account.

     

    I then reversed the supplier payment and processed the electronic payment for the reversal transaction, EP125, which is a deposit in the bank account. EP124 and EP125 clear each other out so you can manually reconcile them by ticking them in the Reconcile accounts window.

     

    I then recorded the supplier payment again and reprocessed the electronic payment transaction, EP126. This transaction is matched with the bank feed transaction.

     

     

    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.

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