How to Reverse a Trust Payout or Deal Refund and Re-Issue to another Contact

For Trust Payouts & Deal Refunds that were paid out to the wrong contact or paid the wrong amount that can’t be voided:

• Open the deal that the cheque was issued to in error.
• Go to the Financials Tab
• The outstanding cheque will need to be deposited back into the deal
  • Go to the Actions Menu
  • Choose Receive Deposit
  • Contact is the original contact that the payout or refund was issued to in error
  • Amount is the amount of payout or refund was issued to in error
  • Payment Method - Deal Deposit (EFT)
  • Reference = Cheque # - Not Cashed   i.e. 28125 - Not Cashed
  • Click Post
• The Person that is responsible for the Bank Reconciliation must be notified to reconcile this deposit with the outstanding cheque that was issued in error.
• Notes Must be added to the deal explaining what was done and why
• Now a refund to the correct contact can be issued
  • Go to the Actions Menu
  • Choose Refund
  • Contact is the Correct contact that the payout or refund was should have gone to
  • Amount – is the amount of the refund or Payout
  • Payment method = Cheque
  • Click Post

• Both Deposit and Refund must be done on the same date.