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Voiding a System Generated Payment (PV) |
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Sun Documentation -
Accounts Payable
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Payment Voiding (PV) allows you to cancel or reverse selected payments that have been created by Payment Run (PAY).
All of the transactions created for the selected payments are reversed, including any discount or tax transactions.
Note: If you are using over-expenditure checking, Payment Voiding posts transactions even if budgets are exceeded.
Use Payment Voiding (PV) to enter the following details to void a system generated payment:
Click here to see a screenshot
Supplier Account Code
The creditor/payables or client account for which a payment is to be voided.
Payment Account Code
The account to which the balancing transaction was posted for the payment to be voided. This is the account specified in the Payment Account field in Payment Run (PAY) and is normally a bank account.
If the payment was made in the transaction currency, you should enter the Payment account identified for the currency in Currency Codes Setup (CN).
Discount Account Code
The account to which any settlement discount was posted for the payment to be voided. This is the account specified in the Input Discount Account field in Payment Run. Leave this field blank if discount was not taken for this payment.
Payment Reference
The transaction reference of the payment to be voided. This must be entered, otherwise Payment Voiding will not be able to find the correct transaction to void. This is the reference on the supplier account.
Note: The payment reference is only assigned to the payment transactions when the payment documents are produced for the run using the Final Print setting of Final in the document format report parameters. If a final print run has not been performed for the payments, the payment reference will be blank even though the payment transactions have been posted. Therefore, before you can void one of these payments, you must use Payment Documents using the Final print option and Store option to produce a 'dummy' payment document and assign a reference to the payment.
Post Transactions
This option determines whether or not the void payment transactions are posted to the ledger. If you choose No, a report is produced identifying the void transactions that would be posted. This allows you to check you have selected the correct transactions.
Note: If the original payment transactions were posted as provisional postings, you must also post the void payment transactions as provisional.
Withhold Void Transactions
- Select Yes to replace the Paid allocation marker of the original transaction with a Withheld allocation marker. This prevents the transaction being selected for payment until the allocation marker is reset.
- Select No to replace the Paid allocation marker with a blank marker which makes the transaction eligible for payment once more.
Tip: You can also use Account Allocations (AA) to amend the payment due date and discount terms for the transaction.
After you pressed Print button the Document Format window will pop-up:
Click here to see a screenshot
Press Ok to post the correction transactions and generate the payment void report.
Based on the information you entered on the Payment Voiding initial screen if the system finds payments for voiding it will show the following information message:
Click Yes to post reversing transactions
Discuss in forum...
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Payment Voiding limitation
Written by Guest on 2008-01-21 20:58:32
We encountered a limitation with Payment Voiding. If you have a single payment for multiple vendors, you cannot void the payment using PV. You basically have to reverse the entire journal in the ledger. It requires several steps to reverse a journal.
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Accounts Payable 
