Payment Voiding Properties

Use Payment Voiding (PYV) to enter the details of the system generated payment that you want to void. When you have entered the details, you are asked whether the payment method was for single payments. This refers to the payment profile that was used to generate the payment, and if you are not sure, you can check the profile in the Payments tab in Payment Profiles (PYP). If the payment profile is for cheques or bank payments, then click No.

To void the payment, you must enter all of the following details on the Payment Voiding (PYV) form, and then click Print.

  1. Specify this information:
    Supplier Account Code
    The creditor/payables or client account for which a payment is to be voided.
    Payment Account Code
    The account to which the balancing transaction was posted for the payment to be voided. This is the account specified in Payment Account in Payment Run (PYR) and is normally a bank account.

    If the payment was made in the transaction currency, you should enter the payment account identified for the currency in Currency Codes (CNC).

    Discount Account Code
    The account to which any settlement discount was posted for the payment to be voided. This is the account specified in Input Discount Account in Payment Run (PYR). Leave this field blank if discount was not taken for this payment.
    Payment Reference
    The transaction reference of the payment to be voided. This must be entered, otherwise Payment Voiding will not be able to find the correct transaction to void. This is the reference on the supplier account.
    Note:  The payment reference is only assigned to the payment transactions when the payment documents are produced for the run using the Final Print setting of Final in the document format report parameters. If a final print run has not been performed for the payments, the payment reference will be blank even though the payment transactions have been posted. Therefore, before you can void one of these payments, you must use Payment Documents using the Final print option and Store option to produce a 'dummy' payment document and assign a reference to the payment.
    Post Transactions
    This option determines whether or not the void payment transactions are posted to the ledger. If you choose No, a report is produced identifying the void transactions that would be posted. This allows you to check you have selected the correct transactions.
    Note:  If the original payment transactions were posted as provisional postings, you must also post the void payment transactions as provisional.
    Allocation Marker on Voided Transaction
    Select the allocation marker you wish to replace the Paid allocation marker of the original transaction. Select:
    • Pay As Paid - if Financials is being used as a broker ledger, to reset the Paid allocation marker to Unallocated. It also sets the Allocation Code to the code associated with Releasing Payable allocation action, followed by the code associated with the Payment Voiding allocation action. If the payment being voided was marked as a Funding payment, this Funding marker is removed.
    • Withhold - to prevent the transaction from being selected for payment until the allocation marker is reset.
    • Not Allocated - to replace the Paid allocation marker with the Unallocated marker which makes the transaction eligible for payment once more.
    • Force - to replace the Paid allocation marker with the Force allocation marker, to ensure the transaction is paid on the next payment run (assuming all other relevant criteria are met).
    • 0-9 Marker - to replace the Paid allocation marker with 0 to 9, as appropriate for your payments procedure.
    Note:  You can also use Account Allocations (ACA) to amend the payment due date and discount terms for the transaction. See 'Amending Transaction Details using Account Allocation'.
  2. Save your changes.
Parent topic: Voiding a System Generated Payment