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Voiding a Posted Payment before Generating EFT File / Changing Banking Information before Generating EFT File

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Posted on by Community Member Microsoft Employee

Can I void/remove a EFT File to not be generated and void the payments to then repay?

I don’t want to pay one of the customers that is currently in my EFT file from yesterday to be paid – but I already posted the payment. Since my last step is to Generate EFT File, I am trying to see what can be done to stop the payment from going thru. Not sure if I void the payment now, if the EFT file will still be there. Would like to remove this if at all possible.

Or for the EFT File, if I change the banking information before Generating the EFT File, do we know if it will take the new banking information or has it already pulled in the old banking information from when it posted? Because I could go in and just change the banking information – the invoice would pay early to the factoring company – but at least it would go to the correct account – maybe?

Thank you!

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Financial Management
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  • Verified answer
    Cheryl Waswick Profile Picture
    Cheryl Waswick on at
    RE: Voiding a Posted Payment before Generating EFT File / Changing Banking Information before Generating EFT File

    If you void the EFT payment before you generate the EFT file, it will not be included in the EFT file.   When you reissue payment in GP, it will get a new EFT payment # generated.

    If you posted the payment, but have not yet generated the EFT file, and change the vendor's banking information, the system should pull the new banking information off of that Vendor's address card when the EFT file is generated.  The most up to date information will be used.

    Hope that helps,

    Cheryl

    Microsoft Support

  • Almas Mahfooz Profile Picture
    Almas Mahfooz 10,996 User Group Leader on at
    RE: Voiding a Posted Payment before Generating EFT File / Changing Banking Information before Generating EFT File

    Use the Void Historical Payables Transactions window to void historical transactions. You can void fully applied cash, check, or credit card payments. A transaction must be fully paid and applied before it appears in the scrolling window. You also can void historical credit memos and returns.

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