Sometimes it becomes necessary to backout a previously recorded Deposit. This can be due to insufficient funds, missing indorsement, or other banking issues. Use the Check Reversal process to record this.
It is handy to have the Cash Reciept Deposit list to match required data.
After a Check Reversal has been entered the original payment transaction will disappear from Accounts Receivable reports...it will only show in Bank Book and General Ledger.
- Enter Reversal (Accounts Recievable | Trx | Cash Reciepts | Enter Check Reversals)
- Check No - The Customers original Check number as recorded on the Deposit entry
- Reciept Date - The original receipt date as recorded on the Deposit entry
- Reversal Date - The date the bank reversed deposit. This will be the date of the general ledger distributions created for this check reversal.
- The system will ask you to confirm that you want to reverse the transaction. Select Yes.
- No additional posting is necessary.