ROA – Reversing a payment
To reverse a received on account (ROA) payment, an offsetting transaction will need to posted to offset the incorrect payment.
1. To do this, Create a new ROA Payment.
2. Enter the customer that then errored payment was posted to.
3. Enter a NEGATIVE payment in the exact amount of the errored payment that was posted. Ensure to use the same tender type to ensure tender method consistency. Click Create Payment.
4. Click the Create Disbursements tab to disburse this payment reversal to the original errored payment.
5. Double-click the original errored payment, and click Commit Disbursements.
The original errored payment has now been cleared.
NOTE: If you had already disbursed the original errored payment, disbursements will need to be cleared on that payment before the reversal payment can be applied. Click here to see how to:
If a $500 payment was received by check but mistakenly entered as a Visa payment, you would:
1. Create a -500 Visa payment.
2. Disburse it against the original +500 Visa entry to cancel them out. (Note: remove any disbursements to invoices at this time)
3. Then create a new +500 Check payment to accurately record the transaction and disburse it against any necessary invoices.