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Reverse an invoice or complete payment order

You reverse a payment or payment order if you cannot execute it. When you reverse a payment the journalising is reversed.Reversed invoices are given the Payment declined status.

If you have not yet entered the payments in the bank journal, you can carry out the procedures below directly. However, if you have already posted the payments, you must first reverse them in the bank journal. You then reverse the payments in accordance with the procedures below, to ensure that the write-off of the outstanding items concerned is reversed.

When reversing invoices or an entire payment order, the following journal item is created for each invoice:

Account

Debit

Credit

Payments suspense account

amount paid

 

To Creditor

 

amount paid

Reverse payments and invoices before you have entered the payment in the bank journal

If you have already journalised the payment in the bank journal while this has not yet been carried out, you will need to perform two steps. One to enter the outstanding item and one to reverse the payment in the bank journal.

You first reverse the second journal entry in the bank journal, of course only for the total amount of the payments not made:

Account

Debit

Credit

Bank

amount paid

 

To Payments suspense account

 

amount paid

You then reverse the unpaid invoices. The following journal entry is then automatically created per invoice:

Account

Debit

Credit

Payments suspense account

amount paid

 

To Creditor

 

amount paid

Contents

Reverse invoices

Your bank may decline to settle specific payments, for example because the name and bank account number of a creditor do not match. The other items will be paid.

In Profit you reverse all declined payments. With this, you create a contra entry for the original journal entry. The outstanding items that are written off are now outstanding again for the original amount.

To reverse a payment:

  1. Go to: Financial / Creditor / Payment order.
  2. Select the appropriate payment order.
  3. Click on the action: Reverse invoice.
  4. Select the invoice you want to reverse.
  5. Click on the action: Reverse line to reverse one payment or click Reverse compressed transaction to reverse a compressed transaction. Profit Will reverse all the payments of invoices included in the compressed payment.
  6. Enter the date of the reversal.
  7. Click on: Finish.

The selected invoices are given the Reversed status.

Reverse a payment order

It can happen that the bank does not carry out the payment order, for example because they have not received the payment file or cannot process it.

You then need to make an entry on the contra account for all the invoices from the reversed order.

Note:

Only use the procedure below if you have not yet entered the payments in the bank journal.

To reverse a payment:

  1. Go to: Financial / Creditor / Payment order.
  2. Select the appropriate payment order.
  3. Click on the action: Reverse order.

    You see the Number of invoices and the total amount of all invoices in the payment order.

  4. Enter the reversal date.
  5. Click on: Finish.

The entire payment order is given the Reversed status.

Directly to

  1. Automatic payments
  2. Configure automatic payments
  3. Add a new payment order
  4. View and change a payment order
  5. Make invoices payable or exclude them from payment
  6. Print a payment proposal
  7. Delete a payment order
  8. Process a payment file
  9. Collection and refund/payment order via the queue
  10. Print a payment specification
  11. Send a payment order to the bank
  12. Reverse an invoice or payment order
  13. Enter a payment in the bank journal
  14. Enter a payment on a contra account and reverse invoices (after entering the payment)
  15. Automatic refunds of credit notes to debtors
  16. Make automatic international payments
  17. Make automatic payments using a payment order set
  18. Make automatic payments via a bank link (AFAS Online)
  19. Make automatic payments (Netherlands Antilles)

Process

Automatic payments