Correcting Receipts

This feature is very important so that you can reverse or adjust transactions and correct errors that happened through Money In.

Payment Application: If you are unsure how the original entry was entered you are able to use the "3024 Payment Application" report to check this. If you already know you do not have to do this step.

Reverse a Receipt:

  1. Payment Method: Select the original payment method (If unsure run payment application report)
  2. Select the Client you wish to reverse the transaction for
  3. Enter the Date, Original Payment Type, Check #, and Description if applicable
  4. Cash Account: Use the same account as the original transaction
  5. Amount: enter the amount you wish to reverse (Negative Number)
  6. If your method of payment was “Receive Payment” then select “Post Payment”
  7. If you selected “Receive and Apply to Items” or “Apply Payment to Items from Funds Available” then scroll down to the items and enter the negative amounts next to each item you wish to remove the funds from.
  8. Select Post Payment.

Payment Method Explanations: Below are the payment methods and the accounts affected by each.

Receive Payment:

-Client Deposits

Receive and Apply to Items:

-Client Deposits if the Item has NOT been invoiced

-Account Receivable if the item HAS been invoiced

Apply Payment to Items from Clients Funds Available:

-Will always reduce Client Deposits by the total amount for invoiced items

-Will increase Client Deposits by the amount applied to items that have not been invoiced

-Will increase Accounts Receivable by the amount applied to items that have been invoiced 

Receive Miscellaneous Payment:

-Cash Account

-Income Account