Reverse a Cash Receipt and Payment Application

If need be, you can reverse a cash receipt or a payment application. If a cash receipt is reversed then the payment applications associated with it are also reversed in the order of the newest to the oldest. This means that the newest payment application created is reversed first followed by the older ones. The amount reversed becomes the unapplied amount and is available for future applications. The LPT that was created due to this is also reversed. The unapplied amount is also updated when an LPT is reversed. 

Reverse a Cash Receipt

Prerequisites

The following is the prerequisite to reverse a cash receipt:

• A cash receipt is created.

  Note:

  To know about how to create a cash receipt, refer to Create a Cash Receipt.

Steps

Perform the following steps to reverse a cash receipt:

1. Click on the cash receipt that needs to be reversed.

2. Click Reverse Cash Receipt.

   • A Batch job, in the background, is triggered and starts to reverse all the payments done on this cash receipt.

   • In the Cash Receipt Detail section, Receipt Status is updated with the following options:

     • PARTIALLY APPLIED, if Unapplied Amount is less than the Receipt Amount.

     • CREATED, if Unapplied Amount is equal to the Receipt Amount. 

   • In the Payment Application section, the following changes occur:

     • Application Status = REVERSED 

     • Unused Amount is updated with the Allocated Amount. 

Example

As shown in the following image, when a cash receipt is reversed, the following changes occur:

• All the payment applications associated with the reversed cash receipt are also reversed.

• The Receipt Statusof the cash receipt changes to REVERSAL STARTED.

• APPLICATION STATUS changes to REVERSED.

Reverse Payment Application

Reversals are also done on an individual payment application. Upon clicking on Reverse Payment Application on the payment application page, the payment made through this payment application is reversed.

You also have the option to manually reverse all the payment applications instead of the automatic reversals that occur when a cash receipt is reversed. However, the order in which these reversals should be done is from the newest to the oldest. 

Prerequisites

The following is the prerequisite to reverse a payment application:

• A payment application is created.

  Note:

  To know about how to create a payment application, refer to Create a Payment Application.

Steps

Perform the following steps to reverse a payment application:

1. Click the payment application that you need to reverse.

2. Click Reverse Payment Application.

   • The Cash Receipt and Payment Application sections are updated accordingly.

   • In the Cash Receipt section, Receipt Status is updated with the following options:

     • PARTIALLY APPLIED, if the Unapplied Amount is less than the Receipt Amount.

     • CREATED, if the Unapplied Amount is equal to the Receipt Amount.

       The Payment Application section is updated with the Application Status = REVERSED, the Unused Amount is updated with the Allocated Amount. 

Example

As shown in the following image, when a payment application (CRCTAP-0000000066) is reversed, the following changes occur:

• Application Status is REVERSED.

• RECEIPT STATUS is PARTIALLY APPLIED.