Forum Discussion

MargT's avatar
MargT
Experienced User
4 years ago
Solved

Reversing an Electronic Payment

I have followed the steps to Reverse a Transaction but now I am stuck.

 

The original transactions were electronic payments.  The Bank Statement is showing them as a credit as the bank rejected them as they had the incorrect bank details.  Now the reversals are showing in my Prepare Electronic Payments folder.  What do I do from here?

 

Thanks.

 

 

 

 

  • LRBooks61's avatar
    LRBooks61
    4 years ago

    Yes that was the correct way to do it

    Processing the payment /reversal is how MYOB creates the transaction for you

     

    Great job

     

    Lisa

4 Replies

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  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    4 years ago

    if you prepare the electroc payment for the reversal - it only creates the bank file , you don't need to upload it.

     

    This will put the transaction into MYOB and you can then match it in your bank feed

     

    Hope this helps

     

    Lisa

  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    4 years ago

    Yes that was the correct way to do it

    Processing the payment /reversal is how MYOB creates the transaction for you

     

    Great job

     

    Lisa

  • MargT's avatar
    MargT
    Experienced User
    4 years ago

    Thanks Lisa.

     

    So I selected Prepare Electronic Payments, then chose the reversal followed by Bank File.  No Bank File was created.  It was then sitting in my Bank Reconciliation and I could complete my bank reconciliation.

     

    This was the correct way to process the transaction?

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