Finding, removing and reversing payments from customers

Receive Payments Overview > Finding, removing and reversing payments from customers

After you record a payment from a customer, you might want to view the transaction again sometime in the future. MYOB Accounting Plus makes it easy to find the payment from a customer you've entered into the system.

You can also quickly remove or reverse the effects of a payment from a customer from your records. If your transactions are changeable, you can remove the payment altogether from your ledger; unchangeable transactions can only be reversed. When you reverse a payment from a customer, the effects of your original payment will no longer be part of your ledger; however, the original transaction and a record of the reversed payment, called a reversing transaction, will remain. Then, if you want, you can enter a new, correct transaction to replace the transaction you reversed. See What are changeable and unchangeable transactions? for more information.

If you notice a problem with a payment from a customer you've already applied to a sale, be aware that you can't simply change the payment. You'll need to remove or reverse the payment first, then re-create and re-apply the payment.

If you want to reverse a payment from a customer that was recorded on a bank deposit for undeposited funds, you'll complete some additional steps. When a payment is recorded in this manner, it is first recorded in the undeposited funds account and then the amount is transferred to the bank account when the bank deposit is recorded. While reversing the payment removes the payment from the undeposited funds account, the additional steps are needed to remove the payment from the bank account.

If a customer's payment "bounces," you can reverse the returned payment and, if you want, charge a penalty for the transaction. If you don't expect a replacement payment, you can use a customer credit to remove a customer's bad debt.

You can also use the Bank Register window to view a complete transaction history for a selected date range a selected account and open the source window of each transaction for more detailed information.

Note: To remove a payment recorded on a bank deposit, you must first remove the bank deposit

If you want to remove a payment that was recorded on a bank deposit of receipts grouped in the undeposited funds account, you must first remove the bank deposit.

After the bank deposit has been removed, payments that were included on the bank deposit can be removed. To learn more, see To remove a bank deposit for undeposited funds transactions.

Whether a bank deposit or an individual payment can be removed depends upon whether your company file is changeable or unchangeable. For more information, see What are changeable and unchangeable transactions?

See To reverse a payment from a customer that was recorded on a bank deposit for undeposited funds for information about reversing this type of payment.

Click below for the step-by-step procedures:

To find a payment from a customer

To remove a payment from a customer

To reverse a payment from a customer

To reverse a payment from a customer that was recorded on a bank deposit for undeposited funds

To track a bounced payment from a customer

To reverse a bounced payment from a customer that was recorded on a bank deposit of grouped  undeposited funds

To use a customer credit to remove a customer's bad debt