Reversing a Debtor Payment Transaction

Reversing a payment transaction refers to entering a new transaction to accomplish the opposite result of the prior transaction. This is usually done to adjust an incorrect entry. It does not refer to a returned check, which is a different type of transaction.

•  A payment transaction is always reversed by using the same payment transaction code and an amount equal to but the opposite sign of the original transaction. E.g. If the original transaction was a paid agency (01 payment transaction code) for $100.00, it is reversed using a paid agency (01 payment transaction code) transaction of -$100.00

Note: The only exception to the above statement is if you are refunding an overpayment to the debtor or client.

Since a single debtor payment could have been distributed among several different balance types and/or several different linked accounts, you will want to reverse that single payment just as it was originally distributed. There are 2 options for accomplishing this.

Allowing system to reverse:

•  You will need to key in the opposite transaction for the total payment amount
•  You will need to key in the original posting date of the transaction that is being reversed into the field Client Ref __________  (or date for reversal)
•  The system will then reverse the payment just as it was originally posted

Manually reversing each transaction:

•  You will need to key in the opposite transaction for each Balance Type and/or linked account just as it was originally posted
•  Key in an X in the 7th position in the field client ref __________                                                        (or date for reversal)

Note: If you receive the message “SC-0347 reversal can not be matched or payment was reversed” when the original posting date is entered into the field “client ref” check the account to make sure the transaction has not already been reversed. If it has not then you will need to manually enter the reversal for each balance type and/or linked account.

Note: Payment code 61 will be reversed along with the standard payment transaction codes.

Keywords - Kbase Payment Transactions Kbase Payment Transaction Kbase Payments Kbase Payment