Payment Bounced Back

Retreev
Retreev Member Posts: 50 Reckoner Reckoner
in Accounts Hosted

I made a payment to a supplier, but with the wrong bank account details. How do I reverse the payment so I can repay it?

Thanks.

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,853 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Did the payment come back into your bank about the same time that it went out, if it did you donโ€™t have to do anything, just make the payment and change the date on the original payment in Reckon. The credit on the statement will contra out the 2nd payment you make. You could always delete the 1st payment and enter it as a cheque into a Contra or suspense account, when the payment is returned to you make a deposit to that same suspense account and redo the pay bills. You will also have to tick the payment in the register when you delete it and reenter to suspense, this will fix the bank rec. one more little step when you reconcile is to ignore the fact that the opening balance is out, because if you enter the correct closing balance, and continue, the payment will be there ready to tick and all will be ok

  • Retreev
    Retreev Member Posts: 50 Reckoner Reckoner

    Unfortunately it crosses over the month end - first payment made 28/7, bounced back 30/7, repaid 3/8. So I need to enter the bounced payment and enter the new payment - all separately.

  • Kris_Williams
    Kris_Williams Member Posts: 3,853 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Ok do it the 2nd way. Ring me if you need any further clarification

    0415940843

  • Retreev
    Retreev Member Posts: 50 Reckoner Reckoner

    Thanks Kris. It all looked a bit messy and we haven't got a suspense account set up. I have ended up just not ticking the payment in the bank reconciliation and I will tick it next month instead. I'm not a fan of doing that, but it will work!

    Thanks for your help.

  • Kris_Williams
    Kris_Williams Member Posts: 3,853 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    I totally agree with that decision, makes more sense

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