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SPANKY77 asked a question on 13 Jun 2014 8:39 AM

Recently had a mishap, were a cash receipt was posted into a closed period.  Does anyone have advise, to correct this problem?  Need to reverse the cash receipt tranaction and post into the correct period.  Also, need to find a way the correct the period sensitive accounts rec aging.  Thanks!

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Rick Kerns responded on 13 Jun 2014 10:56 AM

You have not clarified if this entry was trough the AR payment application screen or as a Cash Management entry but, if it was through the AR payment application screen I would suggest you use the application inquiry/reversal screen and the NSF option and simply do an NSF action on that payment.  That will reduce cash, increase receivables and open back up the invoice(s) that was paid.  You can then enter a new payment application batch posting to the correct period and apply it to the invoice(s) that were exposed by the NSF action.  One caution, the application inquiry/reversal screen does not have a field to specify the posting period so it will post to your current AR period and not the period the original payment was posted to.  If you use Cash Manager you will need to adjust to this difference in posting periods.

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Verified Answer
Rick Kerns responded on 13 Jun 2014 10:56 AM

You have not clarified if this entry was trough the AR payment application screen or as a Cash Management entry but, if it was through the AR payment application screen I would suggest you use the application inquiry/reversal screen and the NSF option and simply do an NSF action on that payment.  That will reduce cash, increase receivables and open back up the invoice(s) that was paid.  You can then enter a new payment application batch posting to the correct period and apply it to the invoice(s) that were exposed by the NSF action.  One caution, the application inquiry/reversal screen does not have a field to specify the posting period so it will post to your current AR period and not the period the original payment was posted to.  If you use Cash Manager you will need to adjust to this difference in posting periods.

Reply