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How to Reverse a General Cheque posted to a General Ledger Account

This article covers reversing a General Receipt posted to a General Ledger Account in error.

 To Reverse a General Receipt posted to a General Ledger Account:

  1. Click on Find feature
  2. Transaction Type - Select General Receipt
  3. G/L Account - Select General Ledger   account. This is not required if the G/L account  is not known.                              
  4. G/L Account - Select the General Ledger account the General Receipt was posted to. This is not required if the G/L Account is not known.

Note:

  • Alternatively, enter the Date Range, Amount, Receipt Number or Audit Number   to assist in the Find.

       5.  Click on Find

       6.  Select the General Receipt to be reversed

       7.   Right click or click on

        8.   Select Reverse

         9.   Select or enter a date of reversal

         10.  Enter a reason of reversal

  • The above message will appear confirming the reversal, select Yes

  • Reversal Date - Select or enter the reversal date
  • Memo - Enter a description supporting the reversal of the General Receipt
  • Click on Reverse to complete the transaction

Note:

A General Receipt which has been cleared/reconciled in the General Bank Reconciliation cannot be reversed. The message below will appear.

The General Receipt will need to be unticked/unreconciled in the Bank Reconciliation to continue with reversing the transaction. If the General Receipt was included in a Deposit, the Deposit will need to be reversed as well to continue with the reversal. Refer to article How to Undo a Deposit.