{"id":4936,"date":"2013-10-31T08:51:03","date_gmt":"2013-10-31T08:51:03","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/?p=4936"},"modified":"2013-10-31T08:51:03","modified_gmt":"2013-10-31T08:51:03","slug":"financial-effect-of-payment-reversal-transaction-in-sage-300-erp","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/10\/31\/financial-effect-of-payment-reversal-transaction-in-sage-300-erp\/","title":{"rendered":"Financial Effect of Payment Reversal Transaction in SAGE 300 ERP"},"content":{"rendered":"

In our previous blog we have discussed on the Payment Reversal transaction and the effect of it on Bank Book in SAGE 300 ERP https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/10\/30\/reverse-transactions-payment-reversal-transaction-in-sage-300-erp\/<\/a>
\nIn this blog let\u2019s understand the effect of Payment Reversal on Bank G\/L and Vendor Balance. Scenario to understand the GL Effect is there is a Payment of 1,500 made to Coastal Heating of Ottawa \u2013 Vendor ID 1400 which is reversed using Bank Reversal screen on account of incorrect date selection.
\nEffect of Payment Reversal on Bank GL Balance in SAGE 300 ERP:<\/b><\/p>\n

\"1<\/a><\/p>\n

In the screen print above, have a look at the highlighted part of the report. \u00a0The report is the GL Transaction listing of the Bank Account.\u00a0 The 2nd<\/sup> entry is coming from the A\/P Payment Entry of 1,500 which is on credit side where as the first is the Reversal Entry of the A\/P Payment of 1,500 which is on debit side. Please note the report is sorted on description and hence the reversal effect is seen first and then the originating entry.
\nNew Stuff:<\/em>\u00a0<\/strong>Advance Payment to a Vendor<\/a>
\nNow let\u2019s see the Effect of Payment Reversal on Vendor Balance in SAGE 300 ERP:<\/b><\/p>\n

\"1<\/a><\/p>\n

In the above screen print, have a look at the highlighted transaction. We can see the selected part in the report out of which 1st<\/sup> is the A\/P Payment Entry of 1,500 which is in negative (credit).
\nThe 2nd<\/sup> is the Reverse Entry of the A\/P Payment of 1,500 which is in positive (debit). One more thing you can see is before Payment No. R<\/b> is added as a prefix which indicates the Reverse Transaction.
\nThrough the reference of G\/L Transaction Listing Report and A\/P Vendor Transaction Report we can come on conclusion that our Bank GL and Vendor Balance are also properly affected. After posting Payment Reversal transaction, system automatically affects the accounting in SAGE 300 ERP.
\nAlso Read:<\/strong>
\n1<\/strong>. \u00a0Reverse Transactions \u2013 Payment Reversal Transaction in SAGE 300 ERP<\/a>
\n2<\/strong>.\u00a0AP Vendor Activity in Sage 300 ERP<\/a>
\n3<\/strong>.\u00a0Check Printing in Sage 300 ERP<\/a>
\n4<\/strong>.\u00a0Generate Separate Payment for each Invoice<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In our previous blog we have discussed on the Payment Reversal transaction and the effect of it on Bank Book in SAGE 300 ERP https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/10\/30\/reverse-transactions-payment-reversal-transaction-in-sage-300-erp\/ In this blog let\u2019s understand the effect of Payment Reversal on Bank G\/L and Vendor Balance. Scenario to understand the GL Effect is there is a Payment of 1,500 made\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[342,1887,2289,2447],"class_list":["post-4936","post","type-post","status-publish","format-standard","hentry","category-sage-accpac","tag-bank-reversal-in-sage-accpac","tag-payment-reversal","tag-reverse-transaction-in-sage-300-erp","tag-sage-accpac-reversal"],"yoast_head":"\nFinancial Effect of Payment Reversal Transaction in SAGE 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/10\/31\/financial-effect-of-payment-reversal-transaction-in-sage-300-erp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Effect of Payment Reversal Transaction in SAGE 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components\" \/>\n<meta property=\"og:description\" content=\"In our previous blog we have discussed on the Payment Reversal transaction and the effect of it on Bank Book in SAGE 300 ERP https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/10\/30\/reverse-transactions-payment-reversal-transaction-in-sage-300-erp\/ In this blog let\u2019s understand the effect of Payment Reversal on Bank G\/L and Vendor Balance. 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