How to Reverse a Sundry Receipt in REST Professional

Overview

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

1. Go to Transactions > Cancel Transactions and click on Receipt Reversal
2. Enter the receipt number in the Reference No. field and press Enter
3. Click OK–F12
4. 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.

1. Go to Transactions > Quick Disbursements
2. 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 

3. 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”.