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Gras's avatar
Gras
Contributing Cover User
4 years ago
Solved

Matching a debit and credit in bank feeds

I paid a customer as an OSKO payment which Westpac declined. I subsequently paid them thru a normal overnight transacion.  I have ended up with a debit and credit for the amount in my bank feed (from the declined transaction) plus the proper overnight transaction.  How do i deal with this in my bank feed.

Cheers, Gras

  • Steven_M's avatar
    Steven_M
    4 years ago

    Hi Gras 

     

    The process I would use to deal with that situation would be:

    1. Enter the original payment if you haven't already done so.
    2. Navigate to Setup>>Preferences>>Security.
    3. Enable Transactions Can't be Changed; They Must be Reversed.
    4. Once that preference has been enabled, navigate to the payment transaction.
    5. Go to the Edit menu (top of the screen)>>Reverse transaction.
    6. Record the reversal.
    7. Re-enter the payment transaction.

    What the above process will do is show a withdrawal (original bank transaction), a deposit (reversed transaction), and another withdrawal (the "correct" transaction). These transactions would then be able to be matched to the respective bank feed transactions.

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  • Steven_M's avatar
    Steven_M
    Former Staff
    4 years ago

    Hi Gras 

     

    The process I would use to deal with that situation would be:

    1. Enter the original payment if you haven't already done so.
    2. Navigate to Setup>>Preferences>>Security.
    3. Enable Transactions Can't be Changed; They Must be Reversed.
    4. Once that preference has been enabled, navigate to the payment transaction.
    5. Go to the Edit menu (top of the screen)>>Reverse transaction.
    6. Record the reversal.
    7. Re-enter the payment transaction.

    What the above process will do is show a withdrawal (original bank transaction), a deposit (reversed transaction), and another withdrawal (the "correct" transaction). These transactions would then be able to be matched to the respective bank feed transactions.