Reverse a Credit Card Receipt

Home | FAQs & Troubleshooting

 

Expand/Collapse all Show/Hide All

Expand/Collapse item  Overview

Use this procedure to reverse a credit card or ACH payment transaction recorded in the Accounts Receivable module.

 

To reverse a credit card or ACH payment receipt

  1. Select Accounts Receivable Main menu > Cash Receipts Entry.

  2. If you have batch processing enabled, the Cash Receipts Entry Batch window appears. Enter the batch number, and click Accept.

  3. In the Cash Receipts Deposit window, enter the deposit date and deposit number. For more information, see Cash Receipts Deposit - Fields.

  4. In the Bank Code field, select the bank code that is tied to the credit card or ACH payment cash account. This is the same bank code that is used when you post the day-end credit card and ACH payment settlement amount.

  5. In the Cash Deposit Amount field, type the deposit amount as a negative number and click Accept.

  6. In Cash Receipts Entry, enter the customer number, or type the invoice number. For more information, see Cash Receipts Entry - Fields.

  7. In the Deposit Type field, select Cash.

  8. In the Check No. field, type CCREVERSE or ACHREVERSE.

  9. In the Amount Received field, type the amount as a negative number.

  10. Click the Lines tab, and perform one of the following:

  11. If you are recovering money from the customer:

  1. In the Invoice No. field, enter the invoice to be reinstated. If you previously entered the invoice number and it has a balance greater than zero, the invoice number is automatically populated.

  2. In the Amt Posted field, type the amount of the invoice as a negative number.

  3. If you are not recovering money from the customer, and instead will absorb the expense yourself:

  1. In the GL Account field, enter the general ledger account number (for example, bad debt expense) to which you want to post this negative amount.

  2. In the Amt Posted field, type the amount as a negative number.

  1. Click Accept, and then click the Print button to print and update the Cash Receipts Journal and update the transaction.

The credit card or ACH payment has been reversed.

Note If the customer's credit card or ACH bank account needs to be credited with the amount of the reversal, you must process a void in Sage Exchange.