How to Reverse a Sundry Receipt in REST Professional
A Sundry Receipt is for the purpose of receipting monies you receive that are not tenant rent, bond, invoices etc.
You may be required to reverse a sundry receipt due to some sort of receipting error.
This document will cover:
- How to Reverse a Sundry Receipt from Current Period
- How to Reverse a Sundry Receipt from Previous Period
How to Reverse a Sundry Receipt from Current Period
- Go to Transactions > Cancel Transactions and click on Receipt Reversal
- Enter the receipt number in the Reference No. field and press Enter
- Click OK–F12
- Select Yes to the prompt to confirm the reversal
NOTE: This will automatically reverse any bank charges or management fees collected and prints a copy of the receipt reversal. The reason entered for cancellation will appear on the tenant ledger.
How to Reverse a Sundry Receipt from Previous Period
Rest Professional does not have a function for reversing receipts from a previous period (unless rent only), therefore the receipt will need to be manually reversed.
- Go to Transactions > Quick Disbursements
- Enter in the criteria:
- Property - Enter the Property alpha you need to reverse the funds from and press ENTER
- Amount - Enter the amount as per the original receipt to be reversed
- Cheque number - Enter the cheque number 999999 (Self-Presenting Cheque Number)
- Description - Reverse Receipt number ####
- Account code - Enter the same account code as originally used when receipted
- Click OK-F12
NOTE: You will need to ensure that any management fees or bank charges that were originally charged are manually refunded. This can be done by doing a journal. For more information on how to do a journal, please see document “Journal Entries in REST”.