Support Webinar - New process for Request Payments, Adjustments and Reversals

Webinar Notes:

This article explains the new process for handling payment reversals and adjustments in our integrated accounting system. This update aims to improve data validation, streamline bank reconciliation, and enhance user experience.

Key Features:

• Enhanced data validation to prevent errors in reversals.
• Streamlined bank reconciliation process.
• New functionalities for handling payment reversals and adjustments.

Steps to Handle Payment Reversals and Adjustments:

1. Accessing the Payment Record:
   • Navigate to the request record in the accounting app.
   • Click on "Payments and Requirements" to view the payment details.
2. Understanding Payment Status:
   • Payments can be in various states: received, sent to accounting, or paid.
   • Changes can be made to payments before they are sent to accounting.
3. Using the Reverse/Adjust Button:
   • A new button labeled "Reverse/Adjust" is available in the command bar.
   • Click on this button to see three options: Void, Refund, and Adjust.
4. Voiding a Payment:
   • Select "Void" to void a paid grant payment.
   • The system will validate if the payment has been issued.
   • If the payment is issued, you will be redirected to Business Central to void the check.
   • Follow the prompts to unapply and void the check, and update the void date if necessary.
5. Reissuing a Payment:
   • After voiding a check, you can reissue the payment by suggesting vendor payments and posting a new check.
6. Processing a Refund:
   • Select "Refund" to process a refund for a paid payment.
   • Enter the refund amount and the date the refund was received.
   • Confirm the expense account for the refund or change it if necessary.
   • The refund will create a new payment record with a negative amount, which needs to be deposited.
7. Adjusting a Payment:
   • Select "Adjust" to make changes to a payment.
   • You can update the amount, expense account, fund, function, or payee.
   • The adjustment date is the date on which these changes will be applied.
   • This function is useful for correcting errors without voiding and reissuing payments.
8. Permissions:
   • Only users with Business Central access can void checks directly.
   • Users without Business Central access can void the invoice or expense transaction only.

Conclusion:

This new process ensures better data integrity and a more streamlined user experience. If you have any questions or need further assistance, please create a case in GOsupport.