Reversing receipts and retainers


Simplified menu - Click Daily Activities, Enter Receipts

Standard menu - Click Receipts/Retainers, Enter Receipts

Classic menu - Click Posting, Firm Receipts


Follow these steps to reverse general receipts and retainers.  You can't reverse a transaction that has been cleared using the Bank Reconciliation feature, and you can't reverse a transaction on a client/matter that has been closed.

  1. Select Reverse, and select the general ledger Bank account the original transaction was entered for.

  2. Enter the Date for the reversal.

  3. Select the Client/Matter or General ledger account the original transaction was entered for.

  4. Select the Reference/Bill number of the transaction to be reversed.  It is important to use the original number because A/R transactions are grouped and aged by reference/bill number.

  5. The original amount will display automatically.  You cannot edit this amount.

  6. Click Save image\save20x20.gif, and then click Post image\done16x16.gif.


Tip:  To reverse a partial amount, enter a regular receipt or retainer without selecting Reverse.  Enter the original bank, client/matter, date and reference/bill number.  In the Receipt Amount field, enter the reversal amount by typing a negative sign and then the amount.  When you type a negative sign and enter the amount, it will change to a positive.  This is correct, because receipts by default are negative (when entering a regular receipt you do not type the negative sign).  Therefore, to manually reverse a receipt, the amount must be entered as a positive number.