Correcting Payment Transactions

Payment transactions are corrected through the Payment Entry and Application Conversation.  The payment (check, clearing transaction, or write-off) to be corrected and the correction transaction code are identified on the Transaction Selection Screen.  The payment is then displayed on the Payment Header Screen.  To make changes, key the new data directly over the old data.  For example, key the new payment amount directly over the old payment amount.

The payment applications already entered and posted to the Payment File are reflected in the open balances displayed for the open items.  These applications cannot be changed.  Corrections are made by adding new payment applications.  To change the application amount to a specific open item, enter a new application for that open item with the amount by which it should be corrected.  To change the open item paid by a payment application, enter two new applications.  The first new application is made to the old open item.  This application amount is the same as what is already on the Payment File but has the opposite sign.  This application negates the one already on the Payment File.  The second new application, in the amount previously entered for the original open item, is made to the new open item.