In the Avitar Tax Collect system there are two functions available when correcting posting errors: Delete Receipt and Delete Transaction from Receipt. The key to which option you choose, is dependent upon what you are doing with the funds after the deletion.
Delete Receipt function is used to:
- Reverse a bad check
- Fix an amount entered incorrectly
- Delete, in total, a payment you posted incorrectly.
If you are not keeping the funds (insufficient funds) or have entered the wrong amount, you will want to Delete Receipt to eliminate the amount completely.
Delete Transaction from Receipt function is used to:
- Remove the payment from an invoice and leave it as a credit.
If you are going to keep the funds and apply them somewhere else, simply Delete Transaction from Receipt to create a credit to use elsewhere.