How can I reverse a cleared AP Payment?

Products

Sage 300

Description

How can I reverse an AP payment check that has been cleared?

Why is a check missing from the Reverse Transactions utility in Bank Services?

Cause

After an AP Payment status is changed to Cleared and the Bank Reconciliation is Posted, the transaction can no longer be Reversed.

Resolution

There are two entries required to reinstate the charge to the vendor account, and adjust the bank balance:

Create a Debit Note in Accounts Payable Transactions, Invoice Entry and select an appropriate GL account.

Create a Deposit in Bank Services, Bank Entry to adjust the bank account. Use the same GL account that was used in the Debit Note.

These two entries effect the vendor and bank accounts in a similar way to reversing the Payment Check.

Category

Adjustments

Processing

Entitlement

Open

ID:60570Last Modified Date:8-10-2018