To reverse a Receive Money transaction

Use this procedure only if your transactions are unchangeable. (Choosing changeable or unchangeable transactions)

The receipt you want to reverse should be displayed in the Receive Money window. (To find a transaction)

1. Choose Reverse Deposit Transaction from the Edit menu. After a few moments, a new transaction, containing amounts exactly opposite of the amount in the original transaction, will be displayed in the Receive Money window.

If you want, you can make a few changes to the new transaction (such as the date and the memo), but you can't change the accounts and amounts that are associated with it.

If you're reversing a receipt from a previous accounting period, consider assigning a date from that period to the new transaction. This will allow your reports for that accounting period to reflect the proper amounts.

2. Click Record to save the reversed Receive Money transaction.



3. If the payment you reversed was recorded on a bank deposit of undeposited funds, continue to step 4, otherwise, you're finished.



4. Click Prepare Bank Deposit from the Banking command center to open the Prepare Bank Deposit window.



5. If the payment hasn't been recorded on a Prepare Bank Deposit transaction; that is, the original payment still appears in the window: Select the payment reversal (a negative amount) and the original transaction from the list of payments by clicking the Deposit column.

If the payment has been recorded on a Prepare Bank Deposit transaction; that is, the original payment doesn't appear in the window: Select the payment reversal (a negative amount) from the list of payments by clicking the Deposit column.

6. Click Record.