Cash Applications can be reversed if an audit trail is desired. It is far easier to just delete a cash application. See the video below on how to reverse a Cash Application. Please note that you may need to adjust the page layout to add the "New Billing Cash Receipt" button to the page layout of the billing to reverse the cash application.
 
 

Reversing the Cash Receipt:

  1. Click into the Billing that has 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
  5. Select the correct Accounting Period. This period must be open.

 

Applying reversed Cash Receipt to a new Billing: (The video shows applying a new Cash Receipt to the original 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 in 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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2 Comments

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    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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