How to Reverse a prepayment Not Applied to an Invoice in Sage 300


How to Reverse a prepayment not applied to an invoice


Steps for Reversing a Prepayment in AP:

  1. Create an Adjustment Entry (DR to the G/L Account where the monies were originally withdrawn from).
  2. Once done, post the AP Adjustment Batch. This will not update Bank Services.
  3. A Bank Entry must now be created. See Common Services > Bank Services > Bank Transactions > Bank Entry
  4. Enter a description for the bank entry
  5. Select the Bank Code, then select the Bank Entry Type as “Deposits”
  6. Credit the G/L Account from which money is being reversed (possibly an AP expense account).
  7. Post Bank Entry
  8. Delete the GL batch created from Bank Services so that the AP side isn’t affected again.

Pre-Payment has now been reversed.