Reversal/Void Reasons Configuration

Installing a standard list of reversal/void reasons enables you to keep track of why items were reversed or voided. The reasons are filed in the item detail. If you wish to use reversal/void reasons for reporting or auditing purposes, it is recommended to access each applicable reversal or void workflow and set Reason as a required field.

When installing reversal/void reasons for General Ledger items, you are also able to determine the default action to be taken on any associated reconciliation statements when the disbursement/voucher is voided for that particular reason.

1. From the Home screen, do one of the following:
    
   • Click Configure on the navigation panel.
   • Click Areas > Configure on the menubar.
   • Click the down arrow next to Home on the options bar and select Configure.

From any other area of the program, do one of the following:

1. • Click the down arrow to the right of the Home options bar button and select Configure.
   • Click Home > Configure on the menubar. The Configure screen displays

2. Click Accounting on the navigation panel or Areas > Accounting on the menubar.
3. Click Reversal/Void Reasons on the navigation panel.
    
   • Add a Reversal/Void Reason
     1. Do one of the following:
        • Click the Add button to the left of the list.
        • Press [Insert] on your keyboard.
     2. Select the appropriate radio button to determine where this reversal/void reason can be used in the system:
        • Transaction reversal: Can be selected when using the Reverse Transaction action.
        • General Ledger void: Can be selected when using the Void Disbursement, Void Voucher, Void Payment, or Void Journal Entry actions, as well as when you add a journal entry and select Automatically reverse.
        • Both: Can be selected in any of the areas listed above.
     3. The active language displays in the Language dropdown menu and is based on your Primary Language as set up in Regional Settings Configuration.
     4. Enter the reversal/void Reason. If you selected Transaction reversal, skip to step g. If you selected General ledger void or Both, optionally complete steps e-g.
        1. If you have more than one language available, the Reason you enter populates for every language.
        2. To change the Reason that will display in a different language, select the Language from the list or the dropdown menu and enter a Reason.
        3. The Update matching descriptions in other languages options defaults as checked or unchecked based on your previous selection for it. The option cannot be changed during this workflow.
     5. In the Update Payable Statements frame, make a selection from the Update statement dropdown to determine the default action when this reason is used to void a disbursement or voucher associated to a premium payable or producer/broker commission payables reconciliation statement.
        • Reopen: The statement’s paid status is changed to Unpaid, and it no longer retains any association to the disbursement/voucher. The statement status is changed to Suspended, meaning the statement can be worked on further. No record of the association between the statement and the disbursement/voucher remains in the system.
        • Reverse: The statement is reversed. The original statement is associated to the original disbursement/voucher, while the offsetting reversal statement is associated to the void offset disbursement/voucher. This allows for a complete audit record of what was paid in the General Ledger.
        • Unpaid:The statement’s paid status is changed to Unpaid, and it no longer retains any association to the disbursement/voucher. The statement status (Finalized or Approved) is not affected, so no additional work can be done on the statement and it is once again available to be paid.
     6. Make a selection from the Recreate reversal dropdown to determine whether the original statement should be recreated when a statement is reversed using this void reason.
        • <Do Not Recreate>- The statement is reversed and not recreated. This option should be selected if the statement was entered with incorrect criteria and must be started over.
        • Recreate Finalized- A recreated version of the statement is generated with a status of Finalized. No additional work can be done on the statement, and it is once again available to be paid.
        • Recreate Suspended- A recreated version of the statement is generated with a status of Suspended. This means further work can be done on the statement.
     7. In the Update Direct Bill Statements frame, make a selection from the Update statement dropdown to determine the default action when this reason is used to void a disbursement or voucher associated to a direct bill commission reconciliation statement.
        • Reopen- The statement’s paid status is changed to Unpaid, and it no longer retains any association to the disbursement/voucher. The statement status is changed to Suspended, meaning the statement can be worked on further. No record of the association between the statement and the disbursement/voucher remains in the system.
        • Unpaid-The statement’s paid status is changed to Unpaid, and it no longer retains any association to the disbursement/voucher. The statement status is still Finalized, so no additional work can be done on the statement and it is once again available to be paid.
     8. Click Finish or press [Enter] to complete the record.
        
        Click Cancel or press [Esc] to exit the workflow without saving changes. You are prompted, "Do you wish to discard changes?" Click Yes.
   • Edit a Reversal/Void Reason
     1. Click to highlight the reason that you wish to revise in the list and do one of the following:
        • Click the Edit button to the left of the list.
        • Press [Enter].
        • Double click the check layout.
     2. Make the desired changes to the Reason.
        1. If the Update matching descriptions in other languages option is checked and descriptions for more than one language match, any change you make to one description will be applied to the other description after you click Finish. Deselect this box if you prefer to update each description individually.
     3. Click Finish or press [Enter] to complete the record.
        
        Click Cancel or press [Esc] to exit the workflow without saving changes. You are prompted: "Do you wish to discard changes?" Click Yes.
   • Delete a Reversal/Void Reason
     1. Click to highlight the reversal/void reason that you wish to delete in the list.
     2. Do one of the following:
        • Click the Delete button to the left of the list.
        • Press [Delete] on your keyboard.
     3. You are prompted: "Do you wish to delete this record?" Click Yes.
   • Print a List of Reversal/Void Reasons
     1. Do one of the following:
        • Click the Print button next to the list.
        • Click Print > Listview on the options bar.
        • Click File > Print > Listview on the menubar.
     2. The Print window displays. Print this list as you would any other document.