Reversal (Prior Days)

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Use this option to reversal an individual or spread posted transactions that are prior to the current date.

· A reversal will create a new, reversing transaction that is actually a duplicate of the original transaction with the amounts reversed.

· Both the original and reversing transactions will be evaluated and flagged as to whether or not they should appear on the next statement. Generally, if the original transaction has not appeared on the statement both transactions will be flagged to not be on the next statement.

· Optional settings per client are available to force all reversals to be on the statements.  Another client specific option is to disallow reversals of remitted transactions entirely.  A global option is available to disallow reversing transactions from closed months. Contact Cubs Consulting if you have a need for any of these exceptions.

Menu CANCEL/REVERSE POSTING, option Reversal (Prior Days).

Enter Transaction or Account Number

Enter the Account Number at the Enter Transaction or Account Number prompt that needs to be reversed, press <Enter>.

All transactions for the debtor in the month selected will be displayed.

Use the arrow keys to highlight the desired transaction and press <Enter>. “SP” refers to a spread posted transactions and are summed in the display.

Select Yes to Reverse the transaction, select No to not reverse the transaction.