Bank Reverse Transactions Screen

Open Bank Services > Bank Transactions > Reverse Transactions.

Click this button to update the bank account balance, and send the reversal information to the subledger.

Click this button to update the contents of the detail table.

Note: This button appears only if you select the Reverse Multiple Transactions option.

Click this button to reverse all the transactions displayed on the detail table.

Note: This button appears only if you select the Reverse Multiple Transactions option.

After you enter a bank code, this field displays the bank account number specified in the bank record.

If you use multicurrency accounting, the statement currency specified for the bank is displayed in the Currency field.

Use this field to specify the code for the bank that processed transaction you are now reversing.

The default bank code specified on the Bank Options screen appears when you open the screen, but you can change the code if you are reversing a transaction that was processed to a different bank.

Once you have specified the bank code, the program displays the bank account number and description from the bank record in the Bank Code Description and Bank Account fields.

This field appears if you are reversing a bank entry processed in Bank Services.

The program displays the amount of the transaction. You cannot change it.

This field appears if you are reversing a bank entry, and displays the date that the entry was posted. You cannot change this date.

This field appears if you selected Reverse Bank Entry as the reversal type.

If you are reversing a single bank entry, enter the number for the bank entry you are reversing.

Tip: If Accounts Receivable or Accounts Payable sent a selected transaction to Bank Services, you can click the Details link to view the document in the source application.

This field appears if you are reversing a vendor payment or a customer refund.

If you are reversing a single payment, use the Finder to select the check or payment number.

Tip: If Accounts Receivable or Accounts Payable sent a selected transaction to Bank Services, you can click the Details link to view the document in the source application.

This field appears if you selected Accounts Receivable as the source application.

If you are reversing a single check, use the Finder to select the customer's check number or cleared receipt number.

Tip: If Accounts Receivable or Accounts Payable sent a selected transaction to Bank Services, you can click the Details link to view the document in the source application.

This field appears if you selected Accounts Receivable as the source application.

If you are reversing a single check, enter the code for the Accounts Receivable customer whose check was returned NSF.

This field appears if you are reversing an Accounts Payable payment or an Accounts Receivable refund.

The program displays the amount of the transaction. You cannot change it.

The program displays the date that the payment or refund was issued in the source application.

Enter the reason you are reversing the transaction.

This field appears if you are reversing an Accounts Receivable receipt.

The program displays the amount of the transaction. You cannot change it.

The program displays the date of the receipt you are reversing.

The session date appears as the default date for this field.

The reversal date determines the year and period to which the reversal is posted. (The year and period are displayed in the Period field to the right.)

This field is available if you selected Accounts Receivable or Bank Services as the source application.

Specify the type of transaction you want to reverse: payments, deposits, or receipts.

The entry in this field determines the type of document you can select for reversal.

If you are reversing a miscellaneous receipt for an Accounts Receivable customer or a miscellaneous payment for an Accounts Payable vendor, you can select this option to reverse the associated invoice automatically when you post the reversal.

Note: If the miscellaneous receipt or payment was for a customer or vendor with no record in Sage 300, Bank Services automatically reverses the invoice when you post the reversal. (You cannot choose whether to reverse the invoice.)

Double-click in the Reverse Invoice column for a selected transaction.

Select this option to reverse a range of transactions.

When you select this option, additional fields appear on the screen, allowing you to reverse more than one transaction. More...

Use the From and To columns to specify ranges of document numbers, dates, amounts, currencies, and vendors, customers, or employees.

The criteria you can specify depend on the source application.

Click the Refresh button to list transactions that meet your criteria, and then use the grid to specify the transactions to reverse.

Displays the source currency equivalent of the functional amount in a multicurrency entry.

Specify the program where the transaction originated: Accounts Receivable, Accounts Payable, Bank Services, or Other Application.

Specify the source currency of the amount you are entering, if it is a multicurrency entry.

This field appears if you specified Accounts Payable as the source application.

If you are reversing a single payment, enter the code for the Accounts Payable vendor.

A description of the vendor will display in the following Vendor Description field.

This field displays the bank entry numbers for the selected withdrawals and deposits.

Tip: To drill down to an original entry, select a transaction on the detail table, and then click the Bank Entry Number column heading.

This field displays the check numbers for the selected payments.

Tip: To drill down to an original entry, select a transaction on the detail table, and then click the Check/Payment No. column heading.

This field displays the check and receipt numbers for the selected payments and receipts.

Tip: To drill down to an original entry, select a transaction on the detail table, and then click the Check/Receipt No. column heading.

Enter the reason you are reversing the transaction.

The session date appears as the default date for this field.

The reversal date determines the year and period to which the reversal is posted. (The year and period are displayed in the Period field to the right.)

For transactions you want to reverse, enter Yes by double-clicking the field. When you post the reversal, the bank is updated and the reversal information is sent to the subledger where the transaction originated.

If you are reversing a miscellaneous receipt for an Accounts Receivable customer or a miscellaneous payment for an Accounts Payable vendor, you can select this option to reverse the associated invoice automatically when you post the reversal.

Note: If the miscellaneous receipt or payment was for a customer or vendor with no record in Sage 300, Bank Services automatically reverses the invoice when you post the reversal. (You cannot choose whether to reverse the invoice.)

Overview

Use the Bank Reverse Transactions screen to:

Note: You can reverse a transaction at any time, even during bank reconciliation.

Reversing Receipts and Deposits

When you reverse a receipt, Bank Services creates a withdrawal entry on the Reconciliation tab.

If you reverse a Bank Services-entered deposit, the entire deposit is removed from the tab.

Note: You cannot reverse a Bank Services-entered deposit that has been cleared. To correct the bank balance, process a withdrawal for the same amount as the cleared deposit.

Reversing Payments

When you reverse a payment that was entered in Accounts Receivable or Accounts Payable, Bank Services automatically updates the customer account in Accounts Receivable or the vendor account in Accounts Payable, releasing any paid invoices and changing the status of the payment to Reversed or Returned.