Note: With the Cancel Outstanding Receivables option, there are not any entries that post to General Ledger, and so manual journal entries may be required in order to reverse the original entries that were posted for the receivables, if needed.
From the General Ledger screen, select the Options menu and then Cancel Outstanding Receivables.
The Cancel Outstanding Receivables screen will appear listing all outstanding receivables (from the cash receipts entered and posted in a batch with the Create Receivables field selected). For each outstanding receivable, the cash receipt date, received from ID, received from name, cash receipt number, cash receipt key, and outstanding balance display.
Note: Only the receivables that have an outstanding balance and are not included in an unposted cash receipt batch appear.
If desired, to view only outstanding receivables with particular cash receipt dates, enter the range of dates in the From and To fields. Use the mm/dd/yyyy format or click the down-arrow button to select the desired dates. Only the outstanding receivables with a cash receipt date within the specified date range will then appear.
Select the outstanding receivables (cash receipts) to cancel:
To select an individual cash receipt, click the box in the Selected column for the desired cash receipt. A checkmark will appear in the box if the cash receipt is selected.
To select all cash receipts displayed on the screen, click the box in the Selected column for the Grand Total line. If selected, a checkmark will appear in the box for the Grand Total line and for all the cash receipts on the screen.
To select all cash receipts displayed for a particular cash receipt date, click the box in the Selected column for the subtotal line for the desired date. If selected, a checkmark will appear in the box for the subtotal line for the particular date and for all the cash receipts with that date.
Note: After a cash receipt has been selected, the amount of the selected cash receipt will be added to the necessary subtotal lines for the cash receipt date and the Grand Total.
After all the desired outstanding receivables (cash receipts) have been selected, click the Execute button.
When prompted to continue cancelling the selected receivables, click Yes.