Creditor Transactions Reverse Payments

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Creditor Transactions - Reverse Payment

If creditor invoices are inadvertently paid (or the cheque is lost in the mail), they may be reversed by this process.

Select CREDITOR TRANSACTIONS | REVERSE PAYMENT and either:

create a new batch of payment reversals - refer to "Creating a New Creditor Batch"

recall an existing batch of payment reversals - refer to "Recalling a Creditor Batch".

Micronet displays the Creditor Reverse Payment screen.

Complete the following fields:

	Field	Value
	Creditor Number	Enter or select the creditor for the payment you want to reverse.
	Posting Date	Micronet displays the system date on the computer's clock as the date of the reversal. You can overwrite this date by entering a date in the format DDMMYY. Regardless of the date you enter, Micronet posts the transaction to the creditors period defined in the General Ledger. This is set on the Config GL Interface (Creditors) screen. For more information, refer to "Edit - General Ledger Config - Creditors Interface".
	Description	Enter a meaningful description of the reversal. This displays on account inquiries.
	Cheque/Ref No	Enter the cheque number or EFT reference of the payment to be reversed (e.g. EFT010210).
	Trade Creditors	Micronet displays the Trade Creditors account defined in the GL Interface. If this field is blank, there is no GL Interface record entered. A GL Interface record of TOTAL needs to be defined for all creditors.
	Bank Account	Micronet displays the Bank account defined in the GL Interface. If drawing the cheque from another bank account, you can change the bank account number.
	With Holding Account	Micronet displays the Withholding account defined in the GL Interface.
	Discounts Account	Micronet displays the Discounts account defined in the GL Interface.
	Rise and Fall Account	Micronet displays the Rise and Fall account defined in the GL Interface.
	GST Adjustment Account	Micronet displays the GST Adjustment account defined in the GL Interface.
	T1 Account	If T accounts are enabled in your system, select a T1 account to be associated with the (debit) Trade Creditors posting.
	T2 Account	Select a T2 account to be associated with the (debit) Bank posting.
	T3, T4, T5	Select T3, T4 and T5 accounts if required.

Optionally, if you want to perform a creditor inquiry, refer to "Creditor Reverse Payment - Inquiry":

On the Creditor Reverse Payment screen, select the Accept button or press F2 to proceed with the reversal.

Micronet locates the payment and displays a message showing the payment details.

If you are certain this is the payment you want to reverse, select Yes.

Micronet reverses the creditor payment. You can use a Creditor Account Inquiry to confirm that the payment has been reversed (refer to "Inquiry - Account Inquiry").