This article covers how to reverse a Trust Cheque issued on a client file.
Option 1 - Reversing a trust cheque in the client trust ledger
To reverse a trust cheque:
- Click on Clients & Matters
- Select or search for the Client/Matter the Trust Cheque is to be reversed on.
- Navigate to the Trust tab
- Select the cheque which needs to be reversed.
- Either right click on the highlighted line or click on
- Click on Reverse
- A message will appear to verify the reversal. Click on Yes to continue with the reversal or No to cancel.
8. Select or enter the Reversal Date
9. Enter the memo/reason for the Reversal
11. Click on Reverse.
Note:
- Once a reversal is finalized it cannot be edited or deleted.
12. Confirmation message will appear if the reversal was successfully. Click on OK.
13. A cheque already reconciled in the Bank Reconciliation for the Trust Bank cannot be reversed. To reverse the cheque, it will need to be unreconciled (unticked) on the Bank Reconciliation to commence with the reversal process. An error message will display.
14. The reversed Trust Cheque may be hidden in the client trust ledger displayed. To view the reversed transactions, select Show reversed transactions to include with all Trust Transactions.
15. To only view reversed Transactions, change Status from Any to Reversed.
Option 2 - Reversing a trust cheque in the Find feature
To reverse a trust cheque:
1. Click on Find
2. In the drop-down menu under Transaction Type select Trust Cheque.
3. Enter any details to find and identify the trust cheque. For example under Ref/EFT/Cheque Number enter the Cheque number.
4. Click on Find
5. Results will display
6. Click on the arrow beside the cheque that is to be reversed OR right click on the highlighted selection. The drop-down menu provides the option to Reverse.
7. A message will appear to verify the reversal. Click on Yes to continue with the reversal or No to cancel.
8. Select or enter the Reversal Date
9. Enter the memo/reason for the Reversal
10. Click on Note: Once a reversal is finalized it cannot be edited or deleted.
11. Confirmation message will appear if the reversal was successfully. Click on OK.
12. A cheque already reconciled in the Bank Reconciliation for the Trust Bank cannot be reversed. To reverse the cheque, it will need to be unreconciled (unticked) on the Bank Reconciliation to commence with the reversal process. An error message will display.
Note:
- A cheque that has been “returned” or NSF after it has been reconciled can be entered as trust receipt to document the refund to the trust account.
13. The Find results for the selected trust cheque will now display two entries. Both the original trust cheque, as well as, the reversal details.
