You can use this task to reverse a community cash receipt that was posted and processed in error. This task creates a reversing GL entry to reverse the cash receipt. The date for the reversing event has the same effective date as the original event.
Note
The financial period to which GL entries are posted to is determined by how you process pending GL entries for each event. The events could potentially be posted to different periods.
To reverse a community cash receipt, follow these steps:
1. Go to Accounting Detail > Community Cash Receipts Tab.
2. Select the community in the context bar.
3. Select the date range that includes when the cash receipt you want to reverse was processed.
4. Click Refresh to display the events in Community Event History.
5. Highlight the event that you want to reverse.
6. Go to Tasks > Reverse Selected Event.
7. Verify that you are reversing the correct event by checking the information in the Reverse Event window.
8. Click Finished.
Note
After reversing the cash receipt, the cash receipt is now marked as having been reversed, and the date of the reversal is displayed in the Reversal Date column.
You cannot undo a payment reversal. Instead, you can add the cash receipt again using the same effective date.