User Support Forum

Hi, I am new to PC+ (and accounting) as of 6/1/12. We are on V. 11.5. We are using Fund Accounting. I had seen "Reverse" on the Fund Accounting Posted Transactions list, but not on the Posted Contributions list until I read about it on this board. So my question is, "When would one want to use "Reverse" on a posted contribution and what are the impacts?" Thanks for your help.

We use it when a contribution check doesn't clear.

When you click REVERSE and confirm, it automatically enters the reversed contribution in Unposted Contributions.

You can edit the entry in Modify Unposted Contributions.

The next time you post in Contributions, the reverse entry will post and land in Fund Accounting as an unposted entry.

Under normal circumstances, you wouldn't want to modify the reversed contribution however. The system automatically creates a transaction that is completely the opposite of the original. When this is posted, it will remove it in such a way that when you print a statement for that person, the original AND the reverse will not show on the statement. If you modify it, then it is no longer a true reverse of that original and will appear on the statement as a negative along with the original. In most cases, this is undesirable.

I got it. Thanks to both of you for taking the time to reply.

Just a follow up ... you would also use the reverse if you had posted the contributions to Funds Accounting, then found out that the Contribution was assigned to the wrong Contribution Fund.

For example.

Env#25 was credited with a contribution to the operations fund. Everything posted fine, but later you find out that that was incorrect, and it was supposed to go to the building fund.

You would reverse the contribution to operations, then add a NEW contribution through the standard Contributions entry forum using the SAME DATE and AMOUNT as the original contribution, but with the correct contribution fund number assigned.

You can then post these transactions, the system will then update contributions properly, and Funds Accounting will receive the correcting transactions to modify the proper income accounts.