CPMS Wiki

ContactsLaw Reverse transaction

In ContactsLaw, you can reverse a general transaction by right-clicking the transaction in a list/ledger view and choosing the 'Reverse' command.

Reversing a transaction posts an equal-and-opposing transaction, designed to negate the effect of the original transaction. In most cases, the transaction type for the reversal will be a general journal.

The following types of transactions cannot be reversed:

Debtor receipt (BR) - Post a debtor adjustment to record a bounced cheque or other transaction subsequently reversed by the bank. This allows you to re-allocate funds.
Bad debt recovery (RR)
Creditor payment (CP)
Creditor journal (CJ) - Post a creditor journal with a negative amount to record a refund or other credit.
Disbursement journal (DJ)
Trust transfer (TT) - Post a general payment and a trust receipt to record the reversal of a TT.
Bad debt write off (BW) - Delete the transaction or post a new bill.

You should carefully consider the implications of reversing a billing journal (BJ) - in most cases, you will want to do one of the following instead:

Delete the bill
Post a credit note
Post a bad debt write off

Unless otherwise specified, you can effectively reverse these transaction types by manually posting a general journal between the appropriate accounts.

By default, the reversal transaction is posted on today's date.