This article outlines how to reverse a Trust Transfer to Pay Bill. Refer to article How to Pay an Accounts Receivable Bill using Trust Transfer.
Note:
A Trust Transfer to Pay Bill cannot be reversed if the Trust Transfer cheque has been posted. Reverse the Trust Transfer Cheque before commencing with this Client/Matter reversal. Refer to article How to Reverse a Trust Transfer Cheque.
To reverse a trust transfer to pay bill:
- Click on Clients & Matters
- Select the Client/Matter the Trust Transfer funds to be reversed from
- Click on Trust tab
- Select the Trust transfer to Pay Bill to reverse
- For transaction options either right click or click on the down arrow
- Select Reverse
- A message will appear validating the reversal, if correct select Yes
- Reversal Date - Select or enter a date of reversal
- Memo - Enter a reason of reversal
- Reverse - Click on Reverse to process the reversal or click on Close to cancel the reversal
7. If a trust transfer to pay bill has been attributed to multiple bills and/or interest each portion of the distribution is assigned its own allocation in both the Bills & Payments Ledger and the Trust Ledgers. A trust transfer reversal must be completed for each individual distribution.
