• Cash receipts
• Entering cash receipts
• Entering sundry payments
• Entering advanced payments
• Reconciling unapplied cash receipts
• Modifying the reconciliation of receipts or credit notes
• Multiple Payment Example
• Transferring cash receipts from one client to another
• Reversing Cash Receipts
• Setting up the Cash Receipts reversal system
• To reverse a cash receipt that was applied to an invoice
• To reverse a miscellaneous cash receipt
• To reverse a client's cash receipt that was not in payment of an invoice
• Viewing Cash Receipt Journals

Reversing Cash Receipts

If a cash receipt fails to clear at the bank, it must be reversed and usually, an insufficient funds charge is sent to the client. With CaseWare® Time, reversing a cash receipt can be done from the Process menu.

Before reversing a cash receipt for the first time, some features need to be set up in the Company Profile.

Once the features are set, determine whether the cash receipt was applied to one or more invoices when it was processed or not. The procedures are slightly different between reversing a client receipt or a miscellaneous receipt.

The types of cash receipts that may be reversed include cash receipts that were

• applied in full to one invoice with the same amount;
• not applied to an invoice or a miscellaneous receipt;
• applied to more than one invoice;
• fully applied as one of multiple payments toward an invoice;
• partially applied.

To reverse a client's cash receipt that was applied to an invoice

To reverse a miscellaneous cash receipt

To undo a cash reversal