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Louiseb91's avatar
Louiseb91
User
11 days ago

Reversal of debit transactions

Hi all, 

 

In my bank transactions, an EFTPOS machine has put 1 pre-authorisation transaction, then secondly reversed the transaction (reversal of debit) and finally the third transaction is for the approved amount. How do I allocate these transactions?

 

I have already allocated the correct final and approved transaction but I'm left with the 2 others. 

 

Thanks,

Louise 

5 Replies

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  • Jemar_C's avatar
    Jemar_C
    MYOB Moderator
    4 days ago

    Hi Louiseb91,

     

    Thanks for your post and I understand that you are using the MYOB Business. Please check this link rather it will show on you may allocate the transactions.

     

    Feel free yo write a post if you need further assistance.

     

    Cheers,

    Jem

    • Louiseb91's avatar
      Louiseb91
      User
      3 days ago

      Hi Jem, 

       

      Thanks again. I do understand the allocation of transactions. How would I treat the debit and credit "reversal" transactions in this instance? For example, in the screenshot I have attached. 

       

      Thanks,

      Louise 

      • Earl_HD's avatar
        Earl_HD
        MYOB Moderator
        2 days ago

        Hi Louiseb91,

        Thanks for your response. For an accurate answer, I recommend reaching out to an accountant. They will be able to provide detailed guidance on how to treat the debit and credit "reversal" transactions in this instance.


        Regards,
        Earl

  • Louiseb91's avatar
    Louiseb91
    User
    5 days ago

    Hi Jem, 

     

    Thanks for your reply. I am using MYOB Business Lite. I can't seem to find a way to reverse the transactions. 

  • Jemar_C's avatar
    Jemar_C
    MYOB Moderator
    11 days ago

    Hi Louiseb91,

     

    Thank you for your post. I can see that you need assistance in allocating those reversed transactions. I highly suggest to record the reversal bank feeds as reversed transactions too in the ledger. After the reversal, the bank feed would automatically match if the reversed transactions had the same dates. You may check this helpful article for the detailed information on how to reverse the transaction.

     

    Feel free to write a post if you need further assistance.

     

    Cheers,

    Jem