This section details how to reverse payments.
Note that button "Reverse Payment" in Payment In/Out window is hidden by default. After enable it, you will need to perform window compilation to be able to use it.
This feature is provided through a new button in both Payment In and Payment OUT windows.
This button has a display logic so that it displays in the following circumstances:
- Being its status one of the following:
- Payment Received / Payment Made
- Payment Deposited Not Cleared / Payment Withdrawn Not Cleared
- Payment Cleared
- not being already reversed
When launched process requires two mandatory parameters:
- Action: Mandatory parameter already populated with Reverse Payment option.
- Payment Date: This date will be used as payment date for the reversal payment.
To reverse payment:
Steve issues an invoice to one of his customers
Customer sends a check to Steve who then registers the check in the system flagging the invoice as paid.
Steve then deposits the check in the bank and registers the financial account transaction in the ERP.
Once amount has been deposited i the financial account, Steve is warned that the check was bounced and that bank is going to charge Steve the check amount again.
Steve then moves to Payment IN window and reverses original payment.
He provides proper payment date and clicks on OK.
Once process has completed he realizes a new field is now displayed on the screen. It is reversed payment filed and now it shows the value of the reversal payment. He can now navigate to the newly created payment.
He then moves to invoice and checks that now it appears as not paid. He as well realizes that now payment plan tab shows that invoice has received to payments (original and reversal).
He can now navigate to the newly created payment.
Steve receives a check from a customer which had no open invoice so it registers the payment in the system and generates some credit for the customer.
He brings the check to the bank and registers the financial account transaction in the ERP system.
Now check appears as deposited and bank account holds the deposited amount.
Next day Steve receives a call from the bank.
It seems customer had not enough funds in his account so check could not be converted into cash.
Bank is going to withdraw the money again in his account.
Steve then moves to Payment IN screen and reverses the payment which was inserted after the check receipt.
He provides new payment amount and processes.
New reversal payment has been created.
This one refunds the amount of previous one, and will be used to book the withdrawal from the bank as it holds a negative amount.