When voiding a payment, if you have the optional Cash Management module, you can select to change the original deposit amount or leave it the same. Depending on what you choose, the treatment given a deposit and its reversing entries are different. When voiding the transaction, you receive the following prompt:
- If you mark the option Leave the total deposit amount the same and create an offsetting bank adjustment for [amount], reversing entries are posted from Banks. Select the Post adjustments to General Ledger option in Administrative Tasks in Banks if the reversing entries are not posting through the Student Billing/Accounts Receivable/Accounts Payable modules. Additionally, if this option is selected, you may not delete the deposit.After voiding the payment, post the reversal.
- If you mark the option Reduce the total deposit amount by [amount], reversing entries are automatically created during the Student Billing/Accounts Receivable/Accounts Payable post to General Ledger.