Void payment not creating a reversing entry.?

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Posted on by Tami Farrelly

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Payment was made from the wrong bank account then voided and a new payment entered using the correct bank account...the voided transaction is not showing reversed in the original bank account??

Void payment shows in the customer inquiry *

But we cannot find a reversing entry anywhere else? Is there a utility we need to run to fix?

Regards,

Tami

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L Vail 65,271 on at

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Hi,

Because you mentioned 'customer inquiry' I'm going to presume this is a cash receipt that was received into the wrong checkbook ID. The receipt was voided in the Receivables Posted Transaction Maintenance window, and then re-entered using the correct checkbook ID.

None of these transactions would impact the balance in the checkbook register. The checkbook balance will move whenever you deposit the receipt. If you voided the receipt before it was deposited, you will not show anything in the checkbook register.

Is this what you are seeing?

Kind regards,

Leslie

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Tami Farrelly 5,080 on at

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Hi there Leslie

The balance in the chequebook that is the problem because the cash receipt still shows in both the correct bank account and the one that was wrong.

The credit entry to bank (to void the incorrect receipt) is missing from the account. Therefore, the balance is overstated by the amount of the deposit.

The deposit was voided after it was posted.

Tami

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Community Member on at

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I am having the same issue - was anyone able to find a solution on this? I am not seeing the GL reversal entry even though its been voided in the checkbook register

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Heather Roggeveen 9,146 on at

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Hi Prem

Can you be more specific about what you voided and how you did it?

A cash receipt through receivables voided should give GL entries but would need to be deposited to the bank to show in the bank reconciliation.

Voiding a deposit would create no GL entries and the receipt would still stand - just undeposited.

So it depends on what you voided.

Cheers

Heather

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Shakil khan 507 on at

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Hi,

I am facing similar issue, reversed payment is showing in Bank reconciliation window and checkbook balance is not correct. Any idea ???

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