Reversal Receipt
When a cash receipt is reversed, the Reversal Receipt dialog opens. In this process an adjustment is made to the general ledger. The adjustment can be identified by an abbreviation used in the Company Profile | Terminology tab | Cash Receipt Reversal field.
The receipt debits the GL account from the original cash receipt and credits the bank account.
Note: Double-click on entries that are applied invoices or applied GL amounts for further details. See more.
Date
Select the processing date for the reversal. It cannot be any earlier than the cash receipt date.
The number of the receipt is displayed.
Amount
The amount of the receipt being reversed is displayed for reference.
Edit Memo
To enter a description of the reversal, click Edit Memo.
Charge [if applicable for Client]
Click the button to enter a charge for insufficient funds. After entering a charge an invoice for the reversal charge is generated.
Reversal Charge Invoice [if applicable for Client]
If applying a charge to the reversal receipt a Reversal Charge Invoice is generated for the client. The Reversal Charge Invoice area appears after a charge has been specified.
Invoice No
A reversing invoice is generated for the client. An invoice number for the NSF amount and charge is generated based on reversal invoice identification and numbering set up in the Company Profile dialog Receivables tab - the identification and numbering may be changed as applicable.
Client No
The client number appears for reference.
Billing format
If applicable, the billing format for this reversal invoice. The wording appears on the invoice.
Amount
The amount of the charge for the receipt being reversed is displayed for reference.
Charge
Click the button to modify the charge for insufficient funds.
Edit Memo
To enter an description of the reversal charge invoice, click Edit Memo.
Add Charge [if applicable for Group]
Click the button to create a Reversal Miscellaneous Invoice to apply a charge for insufficient funds. See Reversal Charge Invoices [if applicable for Group] below.
Reversal Charge Invoices
Reversal charge invoices are listed in a table. Each row applies to one client and certain fields can be modified from the Reversal Miscellaneous Invoice dialog - access this dialog by clicking the ellipses button (
) under the Edit column for existing entries or click the Add Charge button to enter a new reversal charge invoice.
Columns for Invoice Number, Client No, Billing format and Charge are displayed in the table. These values are read-only; they can only be modified from the Reversal Miscellaneous Invoice dialog.
Reversal Charge Invoices [if applicable for Group]
If applying a charge to the group reversal receipt a Reversal Charge Invoice can be generated for each client. The Reversal Miscellaneous Invoice dialog appears when you click the Add Charge button.
Invoice No
An invoice number for the NSF charge is generated based on reversal invoice identification and numbering set up in the Company Profile dialog Receivables tab - the identification and numbering may be changed as applicable.
Client No
Select a client to receive the charge. You can add a charge for multiple clients in the group.
Date
The processing date for the reversal. It cannot be earlier than the cash receipt date.
Billing format
If applicable, the billing format for this reversal invoice. The wording appears on the invoice.
Charge
Click the button to enter a charge for insufficient funds.
Edit Memo
To enter an description of the reversal charge invoice, click Edit Memo.
Example
- Miscellaneous cash receipt 123 - Amount 100.00 - Applied to expense account
| Debit Bank 104 | 100.00 |
| Credit Expense 570 | (100.00) |
- Reversal receipt
| Credit Bank 104 | 100.00 |
| Debit Expense 570 | (100.00) |
Reports
This entry is shown in the cash receipt journal detail and summary reports.
Comments and suggestions about this article and our software are greatly appreciated. As a user of our products, you are in a unique position to provide ideas that have an impact on future releases of this and other products.
Before contacting Technical Support, please consult the online Help and any other documentation included with this package as your first source to solve the problem.
If you require additional assistance, you can contact CaseWare® Technical Support by contacting your nearest CaseWare distributor.
When you contact CaseWare® Technical Support, you should be at your computer and have your documentation at hand. Be prepared to provide the following information:
- Your Client Number.
- The product version number, found by clicking the Help menu and selecting About.
- The type of computer hardware you are using.
- The software version number of MS-Windows.
- The exact wording of any messages that appear on your screen.
- A description of what happened and what you were doing when the problem occurred.
- A description of how you tried to solve the problem.
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