Entering Reversals
You can reverse reconciled receipt transactions to account for NSF and rejected receipts, as well as receipts where payment was stopped.
To reverse a receipt:
1. Navigate to the Bank Statement window.
2. Choose Reversals. The Find Reversals window appears.
3. Select Receipt from the Transaction Type region.
4. Query a receipt or leave the window blank to query all receipts. The Find Reversals window contains many options for querying a receipt. You can enter values for receipt Number, Amount, Currency, and Date. You can also search for receipts based on the Payment Method, Status, Account Number, and Account Currency Amount. Finally, you can also enter Agent information to further narrow your search for a specific customer Name and Number.
Suggestion: Many of the query fields also have associated lists from which you can select a value. Choose the List of Values button from the Oracle Applications toolbar to see the list.
6. Review the transaction information shown in the window.
- Choose Transaction from the poplist to see information about the transaction Original Currency and Amount, the amount in the bank Account Currency, as well at the Amount Cleared in the bank account currency. The bank Account Currency Amount is the receipt or payment amount in the bank account currency (the accounted amount for functional currency bank accounts, and the entered amount for foreign currency bank accounts).
- Choose Reference from the poplist to see additional descriptive information about the transactions.
- Choose Bank from the poplist to see the original bank statement information for the transaction you are reversing, including the Bank Account Number, Bank Currency, Bank Name, and Statement Number.
7. Mark the receipt to be reversed, by checking the box to the left of the receipt information.
8. Choose Comment from the poplist to:
- Select the Reversal Category
- Select the Reason for reversal
- Optionally, enter any Comments
9. Choose Reverse Receipt to generate the reversing transaction.
10. Reconcile the reversed receipt to the NSF or rejected receipt statement line.
Note: If you have two statement lines for an NSF or rejected receipt (one for the original receipt and one for the reversal), you need to reconcile the original receipt with the original statement line, then reverse the receipt and reconcile it with the reversal statement line.
See Also
Manually Clearing and Unclearing Receipts and Payments
Reconciling Bank Statements Manually
Reviewing Reconciled Transactions
Recording Exceptions
Oracle Payables Reconciliation Accounting
Oracle Receivables Reconciliation Accounting
