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If an individual portion of an electronic payment is rejected by the receiving bank, the funds for the rejected payment will be deposited back into your bank account. You'll need to reflect this in AccountRight so the rejected payment can be accounted for when you reconcile your accounts. It will also place your accounts in the position they were in before the payment was recorded.
You can then address whatever it was that caused the payment to be rejected, then process the payment again.
The same principles and steps can be used for rejected Pay Bills, Spend Money and payroll payments.
- Go to Banking > Transaction Journal > Disbursements tab.
- Open the rejected payment.
Go to the Edit menu and choose Reverse Payment.
Can't see "Reverse Payment"?
Open the preferences (Setup > Preferences > Security tab) and select the preference Transactions CAN'T be Changed; They Must be Reversed.
- Check the transaction details then click Record. The reversal is now available in the Prepare Electronic Payments window as a negative amount.
- Clear the reversal (negative amount) from the Prepare Electronic Payments window. Here's how:
- Go to the Banking command center and click Prepare Electronic Payments.
- Select the reversal (negative amount).
- Click Bank File.
- Click OK to the message about recording the transaction.
- At the Save As window, click Cancel.
- You can now record the original transaction again. For example, if the rejected payment was a bill payment, you can record the bill payment again. Likewise, if the rejected transaction was an employee's pay, you can record that employee's pay again.
- Providing you have fixed whatever it was that caused the original electronic payment to be rejected, you can now reprocess the electronic payment as described in either Making electronic payments with a bank file or Making electronic payments directly.