This article covers how to reverse a Vendor Payment already processed on a Vendor within Unity® Accounting
Reverse a Vendor Payment
- Click on Vendors
- Select the Vendor where that payment was posted to
- Click on Invoice & Payments tab
- Select the Payment to be reversed
Right click and select Reverse or click on the dropdown and select Reverse
A message will appear confirming reversing the payment. To proceed select Yes
- Transaction Date - Date of Payment will display
- Reversal Date - Enter or select the reversal date
- Memo - Enter a reason for the reversal
- Click on Reverse to complete the process
A message will appear confirming the payment reversal
Once a payment has been reversed, the original payment will have a status of "Reversed" and the reverse transaction will show a status of Reversal, including an audit trail for transparency. |
Review the reversed transactions on the Invoices & Payments tab and the option to Show reversed transactions needs to be selected.
After the Payment has been reversed, the Vendor Invoice status changes to Unpaid |
Tips
A reversal transaction cannot be undone or reversed.
If the Vendor Payment has already been reconciled/cleared on the Bank Reconciliation, a message will appear. To reverse the Payment, the Payment will first need to be unreconciled on the Bank Reconciliation to continue with the reversal.