Voiding Payments: Process Activity

The following activity will walk you through the process of voiding a payment.

Attention:
This activity is based on the U100 dataset. If you are using another dataset, or if any system settings have been changed in U100, these changes can affect the workflow of the activity and the results of the processing. To avoid any issues, restore the U100 dataset to its initial state.

Story

Suppose that an AP clerk of the SweetLife Fruits & Jams company made a mistake when entering a payment in the amount of $200 to Wingman Printing Company (PRINTICO).

Acting as a SweetLife accountant, you have to void the payment to the PRINTICO vendor for consulting services.

Configuration Overview

For the purposes of this activity, the following features have been enabled on the Enable/Disable Features (CS100000) form:

  • Standard Financials, which provides the standard financial functionality
  • Multibranch Support, which supports multiple branches in your instance of MYOB Acumatica
  • Multicompany Support, which supports multiple companies within one tenant.

On the Accounts Payable Preferences (AP101000) form, the Hold Documents on Entry check box has been selected in the Data Entry Settings section.

On the Vendors (AP303000) form, the PRINTICO (Wingman Printing Company) vendor has been defined. This vendor has the CHECK payment method specified as the default one.

Process Overview

To void a payment, you will use the Checks and Payments (AP302000) form to find the payment, and then void it.

System Preparation

To prepare the system, do the following:

  1. Launch the MYOB Acumatica website, and sign in as an accountant by using the following credentials:
    • Username: johnson
    • Password: 123
  2. In the info area, in the upper-right corner of the top pane of the MYOB Acumatica screen, make sure that the business date in your system is set to 1/30/2024. If a different date is displayed, click the Business Date menu button and select 1/30/2024. For simplicity, in this activity, you will create and process all documents in the system on this business date.
  3. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Step: Voiding a Payment

To find and void a payment, do the following:

  1. Open the Checks and Payments (AP3020PL) list of records.
  2. If you applied any filters before on this form, click the Filter Settings button in the filtering area.
  3. In the Filter Settings dialog box, which opens, click Delete Row, and then click Apply to close the dialog box.
  4. Find the payment dated 1/10/2024 in the amount of $200 as follows:
    1. Click the Payment Date column header, and in the dialog box that opens, specify the following settings:
      • Equals: Selected
      • Value: 01/10/2024

      Click OK to close the dialog box.

  5. Click the link in the Reference Nbr. column to open the payment on the Checks and Payments (AP302000) form.
  6. On the form toolbar, click Void.

    Also on the Checks and Payments form, the system has created a new document of the Voided Payment type that has the On Hold status and the -200 value in the Payment Amount box. The voided payment is shown in the following screenshot.

    Figure 1. The voided payment created to void the original payment


  7. On the form toolbar, click Remove Hold, and then click Release to release the voided payment.
  8. Again open the payment dated 1/10/2024 in the amount of $200.

    Notice that the status is now Voided. When a document of the Voided Payment type is released, the original payment is assigned the Voided status.