Cancelling an Incoming Payment

Follow this procedure to cancel an Incoming Payments document created for cash, bank transfer, and checks that are not yet deposited.

Note Note

When a payment on account is included in a payment order run, you cannot cancel it.

End of the note.

From the SAP Business One Main Menu, choose Banking Incoming Payments Incoming Payments and display the required payment document.
In the table, right-click the payment you want to cancel and choose Cancel.
When asked whether to cancel the incoming payment, choose Yes to continue.
The Cancellation Options window appears.
Select one of the following:
- Current System Date - to assign to the transaction resulting from the cancellation the current date.
- Original Document Date - to assign to the transaction resulting from the cancellation the same date (posting date, due date, and document date) assigned to the cancelled document.
Choose OK to complete the cancellation.

A reversal journal entry is created in order to cancel the one created when the incoming payment was added. The date assigned to this transaction is according to the selection you made in the Cancellation Options window. The Remarks field of this journal entry indicates that this is a reversal transaction for a specific incoming payment.
If the cancelled incoming payment was created for specific transactions or documents, the reconciliation performed as a result of adding the incoming payment is cancelled, and the balance due amounts in the transactions/documents paid are updated accordingly. Documents paid and closed by the cancelled incoming payment are reopened.
The Journal Remarks field in the cancelled incoming payment displays the text: Cancelled.