How to Reverse a Posted Payment in Dynamics NAV - Catapult
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How to Reverse a Posted Payment in Dynamics NAV

Issue

One of our support clients had a situation where several payments were accidentally posted as paid, however, no cheques were printed. They wanted to know the best way to reverse a posted payment in Dynamics NAV.

How to Reverse a Posted Payment in Dynamics NAV When Foreign Currencies Are Involved

We recommended following the workaround steps to reverse the impact of the payment posted without a cheque printed. It is a cumbersome adjusting process as it involves foreign currency entries.

1. Un-apply the payment entries for each invoice
2. Post manual payment reversal for each posted payments
3. Manually apply/post the payment reversal entry against the original payment entry on the vendor ledger entries
4. Print cheque – invoice entry is now restored

Steps

1. On the vendor ledger entries, highlight the payment entry > click Unapply entries action. Highlight all the entries on the unapply vendor entries window > Click Unapply

2. Go to the general journal and create a manual bank reversal entry. Make sure to use the actual exchange rate when the payments were posted.

2.1 General journal entry- use Default batch and create below entries (Vendor entry should be negative value and bank entry should be positive)
2.2 Click the ellipsis button … and manually change the Rational Exh rate amount to get the exact exchange rate of the original payment entry. Do the same step on both the vendor and bank entry lines, otherwise the entry will not balance.
2.3 Run preview posting > Post

3. Go to the vendor ledger and apply reversal entry to the payment entry.

3.1 Highlight the original payment entry > click Apply entries.

3.2 From the apply vendor entries window

• Highlight the reversal payment entry > Click Set applies to ID > Post application
• Click ok on the post application window

4. Go to the payment journal and print cheque. The original invoice entry has now been restored.

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