You may need to cancel a payment that has been applied incorrectly or a check that was returned. This re-opens the items that were settled by the original transaction. The reverse payment transaction is added to the Posted Transactions list and the account balance is updated accordingly.
To do this:
Open the customer account in the IDI Desktop Client window.
Click the Balances tab.
Right-click on the transaction in the Posted Transactions list.
Select Reverse Payment. This displays the Add Payment Reversal window. The contents of this window are the same as the Add/Edit Payment window except that all fields with the exception of Payment Date are read-only.
Click Save. This reverses the payment.
Note
If the payment is reversed due to a returned check, an adjustment must be applied to charge a returned check fee, if applicable.
Backdating a Payment Reversal
You can backdate the payment reversal by editing the Payment Date field. This may be needed if the bill period where the payment occurred has ended (but is not yet closed) and you want the reversal to be processed (and shown) in the same period as the original payment. The date cannot be older than the original payment date and cannot result in putting the reversal in a closed bill period.
How Payment Reversals are Posted
When payment and adjustment reversals are made, any balance that had been settled is restored to an unsettled (open) state. Thus, any finance charges get applied if appropriate.
Posting Examples
Example 1:
Customer has a current balance of $50, and an arrears balance of $75.
Customer makes a payment of $75 which settles the arrears balance.
Carrier reverses the $75 payment due to insufficient funds.
The arrears balance is restored to $75.
The current balance remains at $50.
Example 2:
Customer has a current balance of $75.
Customer makes a payment of $75, which settles the current balance.
Customer makes a second payment of $75.
Second payment remains open as it has no balance to settle against.
Carrier reverses the first payment due to insufficient funds.
The current balance is restored to $75.
The second payment is not reversed, so it settles the current balance.