Reconcile reopened invoices (Disputes)

To successfully reconcile reopened invoices in case of disputes, you need to follow two steps: create a new journal entry to balance the reversed payment and then reconcile this new journal entry and the payment reversal.

If you are not sure how to do this, you can follow the steps below: 

Create the Journal Entry

1. Navigate to General Ledger > Journal Entries > New. Complete the following fields 
   • • Journal: General Journal
     • Posting Date: The date the Payment was reversed
     • Description: Description of the Payment Reverse Balancing (e.g., “Journal entry to balance reversed payment: ABC”).
     • Entry 1:
       • Account: GL for Paystand Checking Account
       • Transaction Debit: Amount of the Reversed Payment (e.g., $50.00)
     • Entry 2:
       • Account: Paystand Recommendation “GL AR.”
       • Transaction Credit:  Amount of the Reversed Payment (e.g., $50.00)

2. Save

Reconcile the Journal Entry and the Payment Reversal

1. 1. Head to the Paystand Checking Account: Applications > Cash Management > Accounts > Checking.
   2. Identify the Checking Account that represents Paystand Checking account and click on ‘Reconcile.’
   3. On the pop-up window, you should see the fields ‘Statement Ending Date’ and ‘Statement Ending Balance.’ 
      • Statement Ending Date should be a date within the period when the Reversal and the Journal Entry were created
      • The Statement Ending Balance should remain the same as the Statement Beginning Balance. If the Beginning Balance = 0, then the Ending Balance should also = 0
   4. Click ‘Continue.’ 
   5. Find both the Reversal and the Journal Entry in the list provided by Sage and match both transactions
   6. Once both transactions have been identified in the bank feed, the next step will be to match each transaction with its corresponding transaction in Sage. 
      1. You can use the filters to look for the transactions in question (the Reverse Payment and the Dispute Fee Journal Entry)
   7. Click ‘Reconcile.’