A vendor contacts you about an unpaid invoice. You verify that a check was printed and mailed one month ago. The vendor did not receive the check. You need to reissue a check to the vendor. Which…

The correct answer is D. Process a payment reversal from the Checks form, and then reissue the payment. There are two methods available for reversing posted checks. In one, reversals are posted immediately when you click Payment reversal in the Check form. In the other, when you click Payment reversal in the Check form, the reversal first is sent to the Check reversals journal in…

Manage Cash and Bank Management

Question

A vendor contacts you about an unpaid invoice. You verify that a check was printed and mailed one month ago. The vendor did not receive the check. You need to reissue a check to the vendor. Which action should you perform?

Options

ACreate a reversing entry by using the General journal form, and then reissue the payment.
BVoid the check from the original payment journal, and then reissue the payment.
CReverse the payment from the Vendor transactions form, and then reissue the payment.
DProcess a payment reversal from the Checks form, and then reissue the payment.

How the community answered

(55 responses)

A
4% (2)
B
15% (8)
C
5% (3)
D
76% (42)

Explanation

There are two methods available for reversing posted checks. In one, reversals are posted immediately when you click Payment reversal in the Check form. In the other, when you click Payment reversal in the Check form, the reversal first is sent to the Check reversals journal in Cash and bank management, where a reviewer can then post or reject the reversal.

Topics

#check reversal#payment reissue#lost check#vendor payment

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