Hi, I was wondering how do people go about reversi...
# accountingc
Chris
02/04/2022, 4:03 PMHi, I was wondering how do people go about reversing ACH payments? I was reading about the reverse payment option because I was hoping it was a more recent payment, but apparently it was one sent on 1/20 so I assume the bank has already processed it so I don't think the "reverse payment" is a viable option.
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Sciuridae54696d
02/04/2022, 4:49 PMthis is a complicated problem, first, is if the money went out of your bank account, second is if the money returned has a fx difference to the money that went out
Sciuridae54696d
02/04/2022, 4:50 PMif in the end its always going to be paid, i'd probably void the original bill payment and create a new one with the new fx
c
Chris
02/04/2022, 5:02 PMLuckily I don't think there will be any FX since it's all USD. ok we will look on the bill payment side. I figured it was too late on the electronic payment side since it happened a week or so ago.
Chris
02/04/2022, 5:05 PMThey haven't respond to my questions but I am going to guess the money left the account
Chris
02/04/2022, 5:33 PMSo I got more background. Apparently the payment for a specific bill in the payment file failed and the payment was returned.
So I would think it's better to just ignore the payment file that was processed last week and just void the bill payment and generate a new one
s
Sciuridae54696d
02/04/2022, 5:43 PMif your scenario is the first payment was rejected and you need to initiate a second "run" of EFT in NetSuite to pay again, this approach is good
c
Chris
02/04/2022, 6:18 PMyea I think we just want to void, re-create the payment with new info and then resubmit a new file
Chris
02/04/2022, 8:07 PMSo I got off the call with Netsuite Support and tested that the best way to handle this was to just void the bill payment and create a new file with just that payment.
We tested doing reverse payments but got odd results. We created a file with 2 bills attached and when they reversed it removed the 1 payment, but then created a completely new file with the other one (which is what I want to avoid). When I did it, it removed the 1 payment, but kept the other one on the same payment file.
To be on the safe side we are just going to void the bill payment itself. It shows VOID when you look at the older payment file.
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