NetSuite: Reversing a Voided Bill Payment

Reversing a Voided Bill Payment

Process:

1.      Open the posting period from the bill payment and any succeeding periods

(This only applies if the bill is not in the current period)

2.      Navigate to the voided bill payment

2a. Review the reserved journal entry linked to the voided bill payment; take note of the GL impact

3.   Edit the bill payment

4.   Under Actions click delete

5. The bill payment is now deleted as well as the reversing journal entry

6. Navigate to the pay bills screen

7. Select all the bills that were listed in the previous bill payment to be marked as paid

8. Click Save

9. Allow the system processing time to create the bill payment

10.  Navigate to the pay bills screen

11. Select the bill payment check to be printed

12. Save the check

13. Compare the GL impact listed on the NEW bill payment and be sure it is the opposite to the reversal journal entry GL impact