Backing out of an Account Payment

This article will discuss what to do if you make a mistake while entering account payments. Topics covered in this article:

Scenario

• You entered the correct payment amount but applied it to the wrong contract(s)

• Accidentally Paid the Customer

• Entered the Incorrect Payment Amount

You entered the correct payment amount but applied it to the wrong contract(s)

1. If you are not already in Account Payments under the correct customer, go there. Select Make a Payment.
   
     

2. Enter zero for the payment amount. Press OK. You'll be prompted to confirm your payment, press Yes. Press OK through any prompts. 
   
     

3. Click on the Paid Amount (Paid column) for the contract that was paid by mistake. The negative of the paid amount will be displayed in the Paying Amount. If done correctly, you will see the payment amount in the Funds Remaining area.
   
   
   
   

4. Now, on the contract where the payment needs to be applied, click on the Owed Amount. The owed amount will now be displayed in the Paying Amount column. The Funds Remaining amount will be reduced by the amount applied to the contract. The image below shows the funds being applied to multiple contracts. 
   
   

Accidentally Applied the Payment to the Wrong Customer

If the correction is done the SAME DAY as the payment:
 

1. Go to Account Payments and select the customer. You can select the Correct Previous Payment option (only if it was paid the same day).
   
   
   

2. Then select the payment that was entered incorrectly.
   
   
   

3. Go back into Account Payments and select Make a Payment. Pay the correct customer and correct contracts.

If you are correcting a payment ON A DIFFERENT DAY than when the payment was taken: 

1. Select Make a payment.
   
     

2. Enter the negative payment amount. For example, if the incorrect payment you made was 100.00. Enter a negative amount of -100.00.  Use the dropdown and select a credit memo. You'll be asked, " Is the payment amount -xx.xx correct?, Press Yes. 
   
     

3. Select a disbursement. 
   
    

4. This will put the money in the funds remaining at the bottom of the screen.
   
   
   

5.  Apply to the Paid column of the invoice. This will un-pay the invoice.
   
   
   

6. Go to the correct customer, make a payment with a positive amount by credit memo, and apply it to the correct invoice.

Entered the Incorrect Payment Amount

1. Follow the procedures above to reverse the original payment.

2. Pay the customer the correct amount.