Suggestion:
System has the provision of payment cancellation screen for the following two reasons:
1) Correction entry and
2) Payment cancellation.
Payment cancellation or correction entry can be done for sundry types as bank, customer , supplier, tax authority, employee, loan party, transporter, Sales person, strategic customer etc.
Cancellation can be done for cash and bank payment.
Bank payment can cause the cancellation charges.
Payment cancellation can be done for single or multiple vouchers. Users can select and add multiple payment vouchers depending on the payment code selected in the header screen.
Once the payment is cancelled the accounting effect is reversed.
System has the provision for payment cancellation screen in the following path of Finance module-> payable -> payment -> payment cancellation.
Users can enter a payment cancellation in the following way:
The System allows users to select the type from 1) Correction entry and 2) payment cancellation.
Users can then select the payment code. Once the payment voucher is selected then the sundry details get populated along with the payment details. If it’s a cheque payment, cheque number and date gets populated, then the bank charges can be entered. System shows the bank code and account details as well. In the details screen, System shows the voucher details for which the cancellation is to be done. System allows users to select /add multiple payment vouchers depending on the payment code selected in the header screen and finish the transaction.