A supplier payment that has bounced

A supplier payment in Readysell indicates that you have paid a supplier. This could have been part of a supplier payment run/aba file or manual supplier payment .

However, there will be occasions when the supplier payment made will actually bounce due to insufficients funds in your bank account.

Procedure:

Step 1 - Original Supplier Payment entered and not allocated (all you need to do is insert a backwards supplier payment to account for the bounced payment)

1. In the navigation panel,Relationships >Cards.

2. Find the Card and Highlight it

3. Click on the Drop Down Action Button on the Top Left 'NEW' 

4. Select Supplier Payment

5. The Supplier Payment window displays with the Cardid you had highlighted

6. Enter header details for the payment:
   
   • Enter the date of the bounced payment . For transactions off a bank statement, this will be the statement date; for other transactions it will be today's date.
   • Enter the full value of the payment received but with a MINUS sign in front of the value.
   • Enter a description to best describe the bounced  supplier payment  
   • Select the same tender as the original payment had . This is very important as it affects bank reconcilations.
   • Enter a Payment Reference . Usually something off the Bank Statement, could be cardid, cardname.
   • Click on Finalise and Allocate
   • Allocate this backwards supplier payment against the original supplier payment that will be outstanding on the suppliers card.
   • The allocation window will appear
7. Highlight the original supplier payment and click on 'Allocate Selected'.
8. Click on Finalise
9. The Value in the top right hand side on the Allocation window has to be zero before you can finalise the allocation.

Step 2 - Original Supplier Payment entered and allocated either via a supplier payment run or manual payment

Firstly unallocate the supplier payment that relates to the bounced payment from within Cards or from Allocations Reversing a Supplier Allocation only not the Supplier Payment through Cards

1. In the navigation panel, Relationships >Cards.

2. Find the Card and Highlight it

3. In the detail area click on the Tab 'Status'>'Supplier open Items'
4. Then drop the Filter and select 'All Open Items'

5. Find the original supplier payment that bounced

6. Check the date on it, if the period is closed for that payment open the period but remember to close it after you reverse the allocation
7. Highlight it and check there is no balance
8. Click on Show Allocations (you are only going to reverse the allocation not the supplier payment)
9. Then click on Reverse action button (if the reverse button is greyed out, then the period is probable closed. Open the financial period. Ensure to date the reversal allocation the same date as the original allocation. Remember to close the period

10. Once the allocation is reversed, you can continue with Step 1 above and insert a backwards supplier payment and allocate it against the original supplier payment.

11. The supplier invoices that were allocated against the original supplier payment that bounced will now be outstanding.