Check Reversal Process

Check Reversal Process

                                                                    PDC reversal
 This will cancel the check, reverse the payment transaction, and undo the settlement, allowing us to select that invoice for settlement again.

  Following are the steps-

1. Go to Accounts Payable>Payments>Vendor postdated checks.   

2. Select the Journal batch number that we want to reverse and click on Settle>Cancel postdated check.

3. Select ‘Date’ and ‘Journal name’ and click on ‘OK’.

4. It will create and post a reversal journal and cancel the check.

5. To verify the status of check, Go to Cash and bank management>Payment reversals>Checks.


                                                                    CDC reversal
  Following are the steps-  

1.    Go to Cash and bank management>Payment reversals>Checks.

2.    Select the check which we want to cancel and click on ‘Payment reversal’.

3.    Select ‘Date’, ‘Journal name’ & ‘reconcile’ and click on ‘OK’.

4.    It will create a journal with reversal entry and change the status as ‘Pending cancellation’.

5.    To post the journal Go to Cash and bank management>Payment reversal approvals>check reversals.

6.    Once it is posted, it will cancel the cheque and status will change as ‘cancelled’.

    

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