Reversing an Expense or Express Payment
- Tamzin Stone
- Rachel Wegener
If incorrect information has been entered into an Expense or an Express Payment, you are able to reverse the transaction.
Expenses that have been paid
If an Expense has the Status of "Paid" or "Partially Paid" the payment must be reversed before the expense can be reversed. Refer to Reversing a Payment for assistance.
Express Payment entries will automatically reverse the expense and payment journals.
Go to the Expense menu, then click Expense Search.
Search for the expense that you wish to reverse.
Highlight the line and click the Reverse button.
A warning pop-up message will appear. If you are sure you want to reverse this entry, click OK.
On the reversal entry displayed, check all details are correct.
Note that only open periods can be posted into. If the expense was in a prior period, the reversal entry will default to the current period.
Enter a Reversal Reason.
Click Save to post the reversal.
In Expense Search, the original expense will now show a Status of "Reversed", and the reversal entry shows the Status of "Reversal".