Canceling Draft Remittances

Page Name

Definition Name

Usage

Cancel Remittance Selection Page

DRAFT_DISH_SEL_IC

Build a cancel remittance worksheet.

Cancel Remittance Application Page

DRAFT_DISH_WORK_IC

Select draft remittances that you want to cancel.

You can cancel a draft remittance either before or after the draft due date, but before you reconcile it. For discounted drafts, you must cancel the remittance before the discount date or after you dishonor it. You can cancel a draft remittance if the customer failed to pay the draft, but promised that there would be sufficient funds to cover the amount of the draft.

After you select drafts remittances to be canceled, run the Receivables Update process to:

  • Create accounting entries.

  • Update the activity table.

  • Change the draft status to Accepted.

    The draft is still posted, so you can select it again for remittance. You cannot access the draft on the draft worksheet.

Use the Cancel Remittance Selection page (DRAFT_DISH_SEL_IC) to build a cancel remittance worksheet.

Navigation:

Accounts Receivable > Drafts > Cancel Draft Remittance > Cancel Draft Worksheet > Cancel Remittance Selection

The fields on this page are the same as those on the Dishonor Draft Selection page.

Use the Cancel Remittance Application page (DRAFT_DISH_WORK_IC) to select draft remittances that you want to cancel.

Navigation:

Accounts Receivable > Drafts > Cancel Draft Remittance > Update Cancel Draft Worksheet > Cancel Remittance Application

The fields on this page are the same as those on the Dishonor Draft Application page.