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Basketball's avatar
Basketball
Experienced Cover User
4 months ago

Pay reversal - clear outstanding electronic pymt transactions

Hi there,

Today, after processing 24 pays & creating the electronic payment ($24,047) & ABA file, I realised prior to importing the ABA file to the bank that one pay was wrong. So this is what I  did:

- I REVERSED the individual's Pay (see pic) - it was reversed against the electronic Banking account, $617

- I posted a new pay for the same employee, with corrected details - also to the Electronic Banking Account, $198

- I also REVERSED the prepared Electronic Payment, for the whole original banking file amount, $24,047.

- then I went to the Prepare Electronic Payments tab, and selected all the original pays & the new pay, but left the original wrong pay for $617 and the REVERSED Pay $617 (a negative amount) NOT SELECTED.

- I created a new ABA file for these selected amounts $23,628 (essentially: 24,047-617+198)

- I then imported this bank file into Bank and made pymt

 

Only problem is I am now left with the deselected lines in the Prepare Electronic Payments screen and not sure how to clear as I get a message (see pic) indicating there may be reconciling problems if negative amounts are selected.

 

How do I clear the 2 lines from this screen please? If I select Transaction Clearing account (instead of the Business operating account) the net amount will be zero I would have thought, therefore no reconciling issues?

Is this correct?

 

1 Reply

  • Hi Basketball,

     

    Thank you for your post and your patience in waiting for a response.

     

    Regarding your concern about the deselected lines in the Prepare Electronic Payments screen, you don't need to worry about reconciliation issues.

    To clear the reversal (negative amount) and original payment from the Prepare Electronic Payments window, go to the Prepare Electronic Payments window and select the negative and positive amounts (which should give a total of $0). Click on the bank file. Click OK in the window about recording the negative transaction. Then cancel the window asking you to save the bank file. 

     

    Our Help article, Making Electronic Payments, has detailed information to assist with this.

     

    Feel free to create a new post again if you require further assistance.

     

    If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

     

    Cheers,

    Princess