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Reverse a Cash Application to Preserve an Audit Trail

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Overview 

Cash Applications can be reversed if an audit trail is desired. It is far easier to just delete a cash application.
Note: You may need to add the "New" button to the page layout on the Cash Receipt related list to reverse the cash application.

Reverse a Cash Receipt

  1. Click the Billing hyperlink with the related Cash Receipt that needs to be reversed.
  2. Click New Billing Cash Receipt.
  3. Select the Cash Receipt that needs to be reversed.
  4. Enter the amount to reverse in the Applied Amount field as a negative number.
  5. Select the correct Accounting Period. This period must be open.

Apply a Reversed Cash Receipt to a New Billing

These are the steps to apply the original Cash Receipt to a new Billing.

  1. Click into the original Cash Receipt. After applying the steps above, there should be a balance other than $0.
  2. Click on New Billing Cash Receipt and click on the lookup icon to select the new Billing that this Cash Receipt will be applied to.
  3. Enter the Accounting Period and Amount and click Save.
  4. The Cash Receipt balance will update to the amount applied and the Billing balance will update as well.

Note: The purpose of applying the original Cash Receipt to a new Billing in this manner is because there is a rule that does not allow a negative amount in the cash application screen. When the Apply button is clicked, the amount that was reversed off during the first process will show up as a negative amount.

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Comments

2 comments

Date Votes
  • Jason Senich

    Is it possible to apply the original cash receipt to a different billing once the cash application has been reversed rather that creating a new cash receipt to apply?

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  • Tony

    Hi Jason,

    Yes you can apply it to other billings. 

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