Exercise - Make a deposit and perform a payment reversal

  • 20 minutes

In this exercise, you will deposit a fund into a bank and cancel it by using deposit slips.

Before you begin

To get the most out of this exercise and the other exercises that are included with this module, we recommend that you have the standard sample data available in Finance that is installed via Lifecycle Services.

Create a deposit slip

  1. Go to Accounts receivable > Payments > Customer payment journal.
  2. Select New to create a new record.
  3. Select a journal name from the Name list.
  4. With the line selected, select the Lines button in the Action Pane.
  5. Alternatively, you can click the Enter customer payments button to enter the payment on the Enter customer payments page.
  6. On the Journal voucher page, in the Account field, select the account of the customer who made the deposit.
  7. Select a Description to attach information about the transaction to the deposit.
  8. In the Credit field, type the deposit amount.
  9. Set Use a deposit slip to Yes.
  10. In the Offset account type field, select Bank.
  11. In the Offset account field, select the bank account in which to make the deposit.
  12. In the Currency field, enter the currency code of the bank account in which to make the deposit.
  13. Select the Method of payment and Payment specification fields.
  14. In the Payment reference field, enter a reference for the payment if applicable.

    Note

    You can insert the Payment specification column if it is not a default field on the customer payment.

  15. On the General, Payment, Payment Fee, and Bank tabs, enter any applicable information.
  16. Select Post, and then Post again.
  17. Select Functions, and then select Deposit slip.
  18. In the dialog box, enter the date in the Bank statement date field.
  19. Select OK to view the deposit slip.

Cancel a deposit slip payment

  1. Go to Cash and bank management > Payment reversals > Deposit slips.
  2. Select the line with the deposit slip to cancel.
  3. Select Cancel payment.
  4. On the Cancel payment page, select a reason for cancellation from the Reason code list.
  5. Accept the default value or modify the value in the Reason comment field.
  6. Select a Journal name.
  7. Select OK.
  8. Go to Cash and bank management > Setup > Cash and bank management parameters.
  9. Expand the General FastTab.
  10. Check the value in Use review process for deposit slip payment cancellations.