I have some issue in reverse transaction. Bank just informed me that cheque from customer has been rejected due to wrong wordings .how do I reverse incoming payment. After I reverse incoming payment , the A/R invoice will go back to outstanding status?
if next time I receive payment ,is that I can use back the same invoice to apply the incoming payment?
1. Search your payment in Banking -> Incoming payments -> Incoming payments. Right click and choose Cancel.
2. Yes, your A/R invoice will have Open Status.
3. Yes, you will can choose the same invoice, because it has balance yet.