Those located in Asia-Pacific will use the term Trust Accounts, where customers located in Europe will use the term Client Accounts. For more information on regional terminology, refer to this article or contact support.
In the event you need to reverse a receipt, firstly go to the invoice you wish to reverse the payment on and click on the 'Less Payment' hyperlink.
You will then see all of the payments made to that invoice.
2. Click on the Reconciled hyperlink and this will take you back to the bank statement of the original payment, highlighted in blue to the payment receipt.
3. You can see that there is the option to Dishonour or Unreconcile.
NOTE: If the Unreconcile option is greyed out, you will not be able to reverse the transaction. This means the funds have already been disbursed from the ledger and there are insufficient funds to unreconcile this payment.
4. Under Unreconcile This Transaction? provide a Reason for reversal and select the red Unreconcile and Reverse This Transaction or alternatively cancel.
NOTE: Selecting the orange Unreconcile This Transaction only button will unreconcile the transaction but not reverse the payment allocation. Therefore, selecting this option will not mark the corresponding invoice as unpaid.
5. The statement will now show this transactions as unreconciled and the invoice as unpaid.
To reconcile this payment against a new invoice, go back to the Client / Trust Account page and select 'Unreconciled transaction on an unreconciled statement'.