Electronic Payment that did not occur
Hi, I have a group of payments that are sitting against supplier accounts, however the payment never occured, resulting in these suppliers having credits. If I try to remove the payments this ...
Forum Discussion
Hi NGorman
Thanks for your post. When a Pay bills transaction is created the journal posted is:
- Debit - trade debtors account
- Credit - electronic clearing account
When a Prepare electronic payment transaction is created the journal posted is:
- Debit - electronic clearing account
- Credit - bank account
If you delete a Pay bills transaction that has been processed through Prepare electronic payments you will also need to delete the electronic payment transaction.
If you reverse a Pay bills transaction that has been processed through Prepare electronic payments you will need to record the electronic payment transaction for the reversal. In the Prepare electronic payments window tick the reversal(s), click on Bank file and record. In the Reconcile accounts window you will have the original payment as a withdrawal and the reversal as a deposit, tick both to reconcile as they clear each other out.
Please let me know if you need further help.
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