Electronic Payment and Reversal of Payment
Good afternoon Brain Trusts of MYOB
I have made an error in reversing a payment that the bank had reversed in an electronic payment.
Unfortunately, I have tried to correct it numerous times without coming here first and have made a royal mess of the situation.
I have attached a screen shot of the histrory of the transactions, i hope it helps.
I think at some point I have reversed a reversal as well.
So ultimately the purchaser is now showing that I owe double the amount now.
After the reversal I should only be owing $2164.29, but instead it is showing that I have a balance due of $4328.58.
I have also attached that window too.
I'm hoping someone has a solution for this travesty I have created for myself.
Thanks in advance
Cheers
Hi OzCombined
Terrific, great to hear that has worked for yourself.
The process I would have used for that overall situation would be:
- If not already created, use the Purchases>>Enter Purchases window to enter that purchase.
- If not already created, use the Purchases>>Pay Bills to enter the original payment transaction for that supplier.
- Process the electronic payment to the bank account using the Prepare Electronic Payments window
- Once processed, go to Setup>>Preferences>>Security and enable Transactions Can't be Changed They Must be Reversed.
- Open the Pay Bills transaction created as Step 2. Ensure that you have opened the individual Pay Bills transaction, not the electronic payment containing that Pay Bills transaction.
- Choose Edit>>Reverse Pay Bills transaction
- Record that reversal
- Navigate to Banking>>Prepare Electronic Payments, tick that negative/reversal transaction and process that payment.
- Re-do payment on the purchase when required using the Pay Bills window.
What the above process will do is, generate a withdrawal in the bank account (original payment), a deposit in the bank account (the reversal transaction) and another withdrawal (when correct payment has been entered).
Based on the screenshots, I think might have got a little stuck as Step 7 and got into a reversal loop which caused you to reverse a reversal thus creating the initial situation. However, you should be able to just process the correct payment now and be good to go.