How Reverse a Stale Dated Cheque and Leave the funds in the General Account

From the Accounting menu open the Find Document and search for an open the Vendor Payment you wish to reverse

Once the Vendor payment is open in Deal Manager

• From the Action menu with in the Vendor payment choose Reverse
• The vendor payment reversal for will open automatically
• Make sure all the fields are correct
  • The amount
  • The date
  • In the reference field put the reason Why this payment is being reversed
    • Stale Dated
• Click post.

Scan and attach any documents if there are any.

 

Since you are leaving the money in your General Account the Vendor invoice must also be reversed otherwise it will be an outstanding payable

You can find the vendor invoice on the Pay Vendors Form OR From the Accounting Menu --> Find Document

Once the Vendor invoice is open

From the Action menu with in the Vendor Invoice choose Reverse

• A Vendor Credit Memo will open automatically
• Make sure all the fields are correct
  • The amount
  • The date
  • The Account
  • In the reference field put the reason Why this payment is being reversed
    • Stale Dated
• Click post.
• Apply the Vendor Credit memo to the Original Vendor Invoice on the Applied Document Tab
• Save

Scan and attach any documents if there are any.

 

IF THE INVOICE CANNOT BE REVERSED - a Restricted Document from a Deal

A Vendor Credit memo will have to be Created Manually and applied to the Vendor Invoice

From the Accounting Menu choose Payables --> Vendor Credit Memo

• Enter the appropriate brokerage
• Enter the appropriate Fund (Trust, Commission, or Operating)
• Enter the Vendor you that is issuing the credit    - Same as the invoice that needs to be reversed
• Enter the Appropriate account for the Vendor you wish credit
• Date = Todays Date
• Reference = reason for the invoice credit
• Choose Taxable or Non-Taxable

In the Lines Grid

• Add a line
• Enter the account #
• Enter a description of the credit
• Enter the Subtotal before GST that is being credited
• Modify the taxes if necessary
• Repeat if there are other accounts that need to be credited

The Total Should be the Amount of credit on the Invoice

Save and post

Apply the Vendor Credit memo to the Original Vendor Invoice on the Applied Document Tab

Save