Sometimes an error is made on a transmission file, and a ‘reversal’ is used to correct the error; the exact amount of the erroneous transaction must be reversed. (You cannot create a reversal correcting the ‘net’ difference.) After that, a separate transmittal file must then be created for the correct amount.
Reverse the entire original transaction and resubmit the correct transaction. Do not reverse an amount to make the 'net' correct.
I. Creating a reversal - the easy method
From the Home tab select Create Reversals.
Select the records, and then from the Reports sub-menu Actions > Reverse.
II. Creating a reversal manually - for entries not originated in ACH Universal
Only use this method if the original entry was not made from ACH Universal.
If the original entry was made in ACH Universal, use the 'Easy Method' above. It much less error prone.
From the Home Page, select 'Add a Record' to display the Add a Record screen.
Fill out the screen exactly as the original entry was prepared, except for the debit/credit selection and date. Enter the opposite debit/credit type as the original transaction. If the incorrect transaction was submitted as a debit, you must create the reversal as a credit, or vice-versa.
The date will be the new transaction date (not the original entry).
Click the 'Reversal' link at the bottom of the page. This will display the check-box below. Leave the check-box 'checked', and click 'OK' to save the transaction.
II. Creating a reversal by importing a file
If you want to import a file, prepare the Excel or CSV file as you normally would, however, reverse the Amount sign. If you originally had positive amount(s), use negative amount(s). It is possible to re-map using Amount_Reverse_Sign.
In the 'Select a file' screen, in the lower left corner, there will be a check-box titled 'Reversal'. Check this box.
The only function of this check-box is to enter the word 'REVERSAL' in the appropriate location within the ACH file.
Remember: You must reverse the sign of the transaction yourself in this option.
You may edit a reversing transaction prior to transmission, just as you would any other transaction, however, you may not change the status of a transaction from reversing to regular or vice versa.
The reversal process simply creates a transaction. Follow your normal procedures for creating and transmitting an ACH file.
Treasury Software does not warrant the viability of any Return file that you create as to whether it is within the acceptable date range or other conditions set by NACHA.