Reversing electronic payment.

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Experienced Cover User Ly
14 Posts
Experienced Cover User
Australia
Experienced Cover User

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Reversing electronic payment.

Hello MYOB Community,

 

I transferred the payment to a company bank account but the company transfers the fund back (they cannot do internal bank transfer within the company) and I have to then pay by cheque for those invoices. In my MYOB, I reverse the payment but it shows the amount in 'Prepare Electronic Payments' as negative. I would like to use the invoices to pay by cheque instead of electronic transfer. Please could someone assist with the steps in MYOB to get rid of the negative payment and I can still use the invoices to pay by a different method.

 

Many thanks in advance.

 

Kind regards

Ly

 

2 REPLIES 2
MYOB Moderator Tracey_H
301 Posts
MYOB Moderator
MYOB Moderator

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Re: Reversing electronic payment.

Hi @Ly 

 

Thanks for your post.

 

You can record the negative amount in the Prepare Electronic Payments window by clicking on Bank File. This will record the transaction but not create a bank file.  

 

In your Bank Register you should then have a withdrawal for the original electronic payment and a credit for the reversal. This will match up to the payment actually leaving your bank account and being refunded.

 

You can then go into Pay Bills and pay those invoices using the cheque Payment Method.

 

Let me know if you have any further issues

 

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

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

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Experienced Cover User Ly
14 Posts
Experienced Cover User
Australia
Experienced Cover User

14Posts

4Kudos

0Solutions

Re: Reversing electronic payment.

Thank you Tracey.

 

Kind regards,

 

Ly

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