Reverse other receipts
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Reverse other receipts from the Bank register to maintain an audit trail. The reversal process depends on whether you deposited the receipt into your bank account or into your undeposited funds.
After you reverse a transaction, you cannot undo the reversal. However, you can create another transaction to replace the original.
Reverse other receipts deposited to a bank account
| Subscription |
Cash Management |
|---|---|
| User type |
Business Employee Project Manager |
| Permissions |
Bank or Check register: Run |
-
Go to Cash Management > All > Reports > Registers > Bank.
- Set the appropriate Reporting period and Bank filters to include the receipt to reverse.
- Select View.
- Find the receipt and select Reverse.
- On the Transaction reversal date page, enter the Reversal date and a Memo about the reversal.
- Select Submit.
After you finish a reversal, you see two line items for the transaction on the Other receipts list.
- One line item is the original transaction, now labeled Reversed.
- The other line item, labeled Reversal, is the reverse of the transaction. It produces a net effect of zero and serves as an audit trail.
Reverse other receipts deposited to undeposited funds
You can reverse other receipts in your undeposited funds from the Other receipts list only after you deposited the receipts. Otherwise, you can delete the other receipt.
| Subscription |
Cash Management |
|---|---|
| User type |
Business |
| Permissions |
Other receipts: List, View Reverse |
-
Go to Cash Management > All > Transactions > Other receipts.
- Find the receipt that you want to reverse.
-
Select More actions > Reverse at the end of the row.
- On the Transaction Reversal Date page, enter the Reversal date and a Memo about the reversal.
- Select Submit.
-
Go to Cash Management > All > Transactions > Other receipts.
- Find the receipt that you want to reverse and select Reverse.
- On the Transaction Reversal Date page, enter the Reversal date and a Memo about the reversal.
- Select Submit.
After you finish a reversal, you see two line items for the transaction on the Other Receipts list:
- One line item is the original transaction, now labeled Reversed.
- The other line item, labeled Reversal, is the reverse of the transaction. It produces a net effect of zero and serves as an audit trail.
The option to delete or reverse depending on the status of the receipt.
- Delete is only available before the transaction is deposited into the bank.
- Reverse is only available after the transaction is deposited into the bank.
If you see there's no option to delete or reverse, check whether or not the transaction has been reconciled. In this case, reopen the reconciliation, then make your changes.
