Reversing and Rollback feature in EFT Module

Reverse payments 

• we can reverse payments if the bank has not yet processed the associated payment file. To reverse the payment process click on the Reverse Payments button on the payment file administration page. 
• When clicking on the Reverse Payments button, the page redirects to the Payment reversals page. 

• Users can enter REVERSAL REASON, REVERSAL DATE, REVERSAL POSTING PERIOD on this page. 
• the user needs to check the select box next to each payment that you want to reverse. If you do not select all payments, partial reversal is applied. 
• If each payment has a different reason for reversal, enter the reason in the Reversal Reason column. It overrides any text you previously entered in the Reversal Reason field under Payment Information. After entering values Click Submit. The Payment File Administration form is displayed. 
• A new payment file template is created with the remaining payments or deletes the existing payment file if all payments are selected, And the payments are reprocessed. The reverse process voids the selected bill payment, sets the related bill back to open status and creates a reversal journal entry. 

Rollback payments 

Users can use the “Rollback” button on the payment file administration page to roll back all payment processes done in this payment file administration record.  

In payment rollback, the payment file is deleted and all its associated payments are deleted. Credits are not included in a payment rollback. Any credit transactions are still applied to a bill or invoice. 

You can roll back payments within 24 hours after the payment file has been generated if the bank has not yet processed the associated payment file.  

1. Go to Payments > Payment Processing > Payments File Administration. 

2. Click View next to the payment file that you want to cancel. 

3. Click Rollback. On the confirmation message that appears, click OK. 

4. The value in the File Processed? field changes to Queued. 

5. You can change the priority of the rollback process for the payment file by clicking Edit, and changing the value in the Priority Queue field. 

6. Click Refresh until the value in the File Processed? field changes to Canceled. The payment file is deleted and all its associated payments are canceled.