Reverse a Client account transaction

A Client account transaction can be reversed in two ways:

a) Reversed and hidden from view unless specifically requested - 'Delete' reverse

b) Reversed and visible on all transactions displays, reports and views - Standard 'Reverse'

When generated an Account Balances, an Account Statement report or a print of the client account transactions view, visibility of the the reversal transactions are usually not required - this is why the 'Delete' reversal option is recommended as the default.

When a firm is audited or a supervisor needs to check all client account transactions, there will always be an option to include Deleted transactions:

On a report:

In the matter Transactions view:

1. Under the Accounts view or in the matter Transactions tab, select the transaction to be reversed

   
   
    

2. Select Delete Transaction.

   
   
    

3. Enter the Transaction Date related to the Reversal - this is generally the same date that the original transaction was posted. This is important because the balance at the original transaction date must also reflect the reversal of the transaction.

   Enter a Reason for the reversal, then select Delete.

   
    

Did You Know

• You cannot reverse a Transfer Funds transaction.

  To perform the Transfer Funds reversal either:

  Select Transfer Funds from the original 'To' matter and enter the original 'From' matter in the lower pane (this can only be actioned if the Transfer is entered on the same day)

  If the Reversal is not entered on the same day follow the steps below:

  a) Post a Client Payment from the original 'To' matter changing the transaction date to reflect the date of the original transfer and note in the Description field the reversal details.

  b) Post a Deposit Funds transaction to the original 'From' matter, transaction date to reflect the date of the original transfer and note in the Description field the reversal details.

• The reversal of a Bulk Client to Office Transfer transaction will delete all invoice payments associated with the  original Client to Office Transfer transaction.
• If the Client account transaction to be reversed has been reconciled, the item in the bank reconciliation needs to be unreconciled first. Please call our support desk and create a ticket if a reconciled bank reconciliation needs to be deleted in order for the transaction to be unreconciled.

Need help?  Contact our friendly team.