Reversing a bill when a deposit is paid

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Trusted Cover User SRK
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Reversing a bill when a deposit is paid

Hi

 

I have had this issue before the service note is confusing to me.

 

I have mistakenly paid purchase orders rather than converting to bills.  I have then paid them from the wrong bank account on MYOB (cheque not visa).  Please write down in steps what I need to do to remove the payment from my cheque account and transfer it to the visa.

 

As an aside - it is very easy to mistakenly pay a PO rather than convert it to a bill then pay it.  Is there is a warning or alert that can be put up to stop this happening?

 

Thanks in advance.

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MYOB Moderator Steven_M
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Re: Reversing a bill when a deposit is paid

Hi @SRK 


The process for dealing with supplier deposits with regards to deleting or reversing the deposit is outlined on Help Article: Supplier deposits, however, I have indicated the steps below for you:

  1. Go to Setup>>Preferences>>Security>>Enable Transactions CAN'T be Changed; They Must be Reversed
  2. Open the desired Bill that has had those deposits paid on - Purchase>>Purchase Register>>Select the arrow next to the desired bill to open it. You should have the Edit Purchase window on screen at this point.
  3. Select Edit>>Reverse Purchase and record the corresponding reversal. 
    This will create a debit note which can be seen in Purchase>>Purchase Register>>Returns & Debits
  4. If the purchase was fully paid, you would highlight that debit note and select Recieve Refund. Record the corresponding Settle Returns & Debits transaction to the account and date that matched the original payment. If the purchase was closed with multiple payments, change the amount before recording one transaction and then record the other matching refund transaction.

    If the purchase was partially paid you would highlight the debit note and select Recieve Refund. Record the necessary Settle Returns & Debits transaction for the required amount, amount and date. With the residual amount, you would select the Apply to Purchase and apply the amount back to the purchase to close it.

What the above process will do is take you back to square one with that purchase, so it can be re-entered and payments can be re-entered if necessary.

Kind regards,
Steven

MYOB Community Support

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Trusted Cover User SRK
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Re: Reversing a bill when a deposit is paid

Thanks - that worked and was well explained.

 

Is there any way of correcting this situation for a transaction in the previous calendar year?

MYOB Moderator Steven_M
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Re: Reversing a bill when a deposit is paid

Hi @SRK 

 

The transactions were in a past calendar year are not really going to be a problem. As, in theory, you could record those transactions in the same calendar year as to when they occurred. Although, the financial year is going to be a bigger problem. Reason being you can only record transactions in the current or future financial years. So if you have already closed that financial year you have locked that transaction into that financial year.

 

For that situation, you could look at rolling back the closed financial year if that is an option. If that is not an option, recording the reversal transaction into the current financial year would be the only real option.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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