Approving a bank payment reversal

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RobbieBeaker
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Approving a bank payment reversal

Hi

I have processed an electronic payment in AccountRight but I have entered the wrong bank details.

The payment has been reversed from the bank. How do I process the two transactions that are appearing on my bank feeds?

Thanks

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Tracey_H
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Re: Approving a bank payment reversal

Hi @RobbieBeaker 

 

You can reverse the payment and then process the reversal through Prepare Electronic Payments. This will give you a withdrawal and deposit in your bank account to match with bank feeds.

 

Before you reverse the payment go to Setup>Preferences>Security tab and tick Transactions CAN'T be changed; they must be reversed

 

Find the payment transaction by going to Transaction Journal>Disbursements tab, then click on blue zoom arrow to open it.  

  • Go to Edit menu and select  Reverse Payment and Record
  • Go to Prepare Electronic Payments
  • Select the reversal transaction
  • Click on Bank File

A bank file won't be created because it is a negative amount but the amount will be cleared from the electronic clearing account and moved to your bank account for matching.

 

You can then process the payment again with the correct bank details.

 

Let me know if I can help further

 

Cheers,
Tracey
Previously @bungy15

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