Cancel a Receipt
- Michelle Russell
Analytics
It may occasionally be necessary to account for a Customer Payment that was cancelled or rejected by the bank. In these instances a payment can either be voided or negated by entering a negative/balancing payment, depending upon company practices.
How to Cancel a Receipt if the Payment Has Been Recorded or the Period is Closed
If the payment has been recorded, or the period during which the original receipt was made has closed, voiding the transaction becomes difficult.
It is therefore recommended to enter a negative payment to balance the entry and then apply it to the original purchase invoice. This option provides a clear audit trail. If the receipt has not been reconciled and the accounting period is still open then it is also possible to void the receipt.
Complete the instructions below to balance the entry and apply it to the original invoice:
Navigate to Customers > Receipting.
Select the customer on the Receipting screen and activate the Show Zero Balances toggle [
].
Enter the amount as a negative amount.
Apply the amount to the appropriate invoice(s). This will return the balances back to outstanding and return them to the customer account while also creating an offsetting transaction in the bank account to be reconciled against the original receipt.
How to Void a Receipt from the Customer Management Inquiry Tab
Navigate to Customer Management >Inquiry tab.
Select the Show Zeros toggle [
].
Locate the receipt that needs to be voided from the list.
Once selected, click the Void Transaction icon [
] to void the receipt and void the DR journal, returning the outstanding balance back to the applied invoice.
How to Void a Receipt from the Receipt Listing Screen
Alternatively, a similar process can be done from the Receipt Listing screen.
Navigate to Customers > Receipt Listing.
Locate the receipt that needs to be voided.
Use the Voice Transaction icon [
] to void the receipt and void the DR journal returning the balance back to the invoice.
Either option will void the journal and remove the transaction completely from the system, although an audit trail will remain available for review in the voided journal’s event log.