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Procedure documentationCanceling Deposits from Checks Locate this document in the navigation structure

 

Follow these procedures to fully or partially cancel a deposit from checks.

Note Note

Canceling deposits does not cancel related checks or payments. However, if related incoming payments were already canceled, canceling deposits does cancel related checks.

End of the note.

Note Note

When a deposit contains checks that are deposited through the Postdated Check Deposit window, you cannot fully cancel the deposit. However, you can cancel the other part of the deposit using the Cancel Row option in the Deposit window or the Cancel Deposit option in the Check Register window.

End of the note.

Procedure

Full Cancellation

To fully cancel a deposit from checks, follow the procedure below:

  1. From the SAP Business One Main Menu, choose   Banking   Deposits   Deposit   and display the deposit you want to cancel.

  2. In the document, right-click and choose Cancel.

  3. When asked whether to cancel the deposit, choose Yes to complete the cancellation.

Note Note

If the deposit contains canceled checks (that is, the deposit was already partially canceled), this deposit will be canceled excluding the canceled checks.

End of the note.
Partial Cancellation

To partially cancel a deposit from checks, do one of the following:

  • Cancel the deposit through the Deposit window:

    1. From the SAP Business One Main Menu, choose   Banking   Deposits   Deposit   and display the required deposit.

    2. In the table, right-click the row that you want to cancel, and choose Cancel Row.

    3. When asked whether to partially cancel the deposit, choose Yes to complete the cancellation.

  • Cancel the deposit through the Check Register window:

    1. From the SAP Business One Main Menu, choose   Banking   Incoming Payments   Check Register  .

    2. In the Check Register – Selection Criteria window, specify the required parameters and choose OK.

    3. In the table, right-click the check the deposit of which you want to cancel, and choose Cancel Deposit.

    4. When asked whether to partially cancel the deposit, choose Yes to complete the cancellation.

Result

  • A reverse deposit document of negative amount is created. If it is a partial cancellation, the reverse deposit only contains the check the deposit of which you have chosen to cancel. The Journal Remarks field of the reverse deposit displays the text: <journal remarks of the canceled deposit>, Reverse Entry for Deposit No. <deposit number of the canceled deposit>.

  • The Journal Remarks field in the fully canceled deposit displays the text: Canceled.

  • The Canceled column for the canceled row displays the text: Yes.

  • The internal reconciliation performed as a result of adding the deposit is canceled.

More Information

Deposit