Reversing a Posted Wire Payment

Note:  If the voucher for the wire payment is generated but not processed, delete the wire payment record in the A/P Payments form instead of reversing it.

To reverse a wire payment:

  1. Create a new wire payment on the A/P Payments form and specify this information:
    Vendor #

    Specify the vendor number whose wire payment you want to void.

    Bank code
    Specify the bank code to which the original check was issued.
    Payment Type
    Specify Wire Transfer.
    Check Number
    Accept the default value. This value must be unique.
    Amount
    Specify the negative amount that corresponds to the wire amount to be voided. For example, to void a payment of $250.00, specify -250.00.
  2. Save the record.
  3. Distribute the reversal amount the same as the original payment.
  4. Go to the A/P Wire Posting form to post the wire transfer reversal.

During the posting process, the system marks the corresponding bank reconciliation as Voided.

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