When payment was received for a previously posted invoice, the payment date was entered as March 23, 2027 instead of March 23, 2007. If one then tries to obtain a receivable listing as of a specific date subsequent to March 23, 2007 - selecting the "Calculate Balance as of ...." option, the invoice is, of course, shown as being outstanding. Is there any possible way to reverse a cash payment after it has been posted?

I could post the same payment again, this time to March 23, 2007 and I could post a dummy invoice to March 23, 2027. Only the March 23, 2027 payment was applied against the March 2007 invoice so the period end clearing procedure will not clear these transactions until 2027! Do I have any options?

Hi Barry

Your idea is not the best approach. Just to be concrete, let's say the misdated check is Check #12345 for $100.

The best (and most logical) approach is to enter a second cash receipt, using the date 3/23/2027, using #12345A as the check number, for negative $100. Apply this check against the same invoice that you originally posted the $100 cash receipt, thus bringing the invoice back to its original balance. Post this cash batch.

You are now at square one. Reenter the check using check #12345B, dated 3/23/07, for $100.

Steve