9.2 Correcting AR Posted Direct Journal Payments (Zero Dollar Deposits)

Purpose:  Use this as a reference how to correct posted direct journal payment(s) using a zero dollar deposit in ctcLink.

Audience:  Accounts Receivable Staff

You must have at least one of these local college managed security roles:

  • ZZ AR Direct Journal Unpost

You must also set these User Preference Definitions:

If you need assistance with the above security roles or User Preference Definitions, please contact your local college supervisor or IT Admin to request role access.

  • SCENARIO: Imagine a scenario where an AR Direct Journal Deposit and Payments were created and posted to the General Ledger. Later you have identified that you have entered an incorrect Department or ChartString distribution and there is no option to modify the accounting entries. To make this correction, create a new deposit with correct information with a negative amount, zeroing out the deposit with the incorrect ChartString, and create the payment with the correction.  
  • PROCESS: From a system process, ensure that you follow the steps contained in this QRG to create a zero dollar deposit.  

Correcting a Posted Direct Journal Payment (Zero Dollar AR-DJ Deposit)

Navigation: Accounts Receivable > Payments > Online Payments > Regular Deposit

  1. The Regular Deposit search page displays.  Select the Add a New Value tab.
  2. Enter the desired information into the Deposit Unit field.
  3. Select the Add button.
  4. The Totals tab displays. Use it to enter information and control totals for a new deposit, or delete a deposit. The Totals tab is unavailable if the deposit has been reconciled with a bank statement.
  5. Enter the desired information into the Accounting Date field. (Note: Dates will default to the current date)
    • You will use this field to enter the accounting date for each payment and for all pending items created from the payment.
    • You can override the date on the Regular Deposit - Payments page.
    • The system validates the accounting date to make sure it falls within the open period for the business unit and transaction type as defined on the Open Period page for the business unit.
  6. Enter or lookup the Bank Code.
  7. Enter or lookup the Bank Account field.
  8. After you choose the bank account type, the Deposit Type field should automatically populate. If this does not happen, you may enter the information manually. The most common deposit type is C for Customer.
  9. Enter the USD for the Control Currency field.
  10. Under the Control Totals section, enter the desired information, enter zero into the Control Total Amount and the number of deposits to correct into the Count fields.
  11. Select the Payments tab.

A zero-total deposit is a deposit where the payment amounts offset each other. The Control Total Amount will be zero because there was no actual money in/out of the bank. This process makes a correction on a prior deposit that has already been posted.

Totals tab page
  1. The Payments tab displays.  Enter the Payment ID field. Use this field to identify a payment. Recommend using the similar Payment ID as the original deposit, i.e. 2433-CORRECTN-1. For help locating payments, see QRG Viewing Item Activity Summary, From a Group, or From a Payment.
  2. The Accounting Date field displays the payment date, using the accounting date on the Totals page as the default.  The system validates the payment date to make sure that the date falls within the open period for the business unit and transaction type as defined on the Open Periods page for the business unit.  The payment date may be different from the deposit date, if you use the postmark date from checks.  The payment date affects earned discounts, so it's important that it is accurate.
  3. Enter a negative payment amount into the Amount field, to reverse the incorrect entry.
  4. Select the Journal Directly check box option.
  5. Optional to select the Attachments link to upload backup documentation or reasoning for this correction. Select OK.
  6. Select the plus icon [+] to add a second line or payment.

When adding Attachments, the system will automatically saves the page and generate the Deposit ID.

payments tab payment 1 of 2
  1. On the second Payment Information page, enter a Payment ID, i.e. 2433-CORRECTN-2.
  2. In the Amount field, enter the positive dollar amount for the corrected ChartString.
  3. Select the Journal Directly checkbox.
  4. Select the Save button.
  5. Select the Apply Payment link.

Optional to toggle back to Payment Seq 1 to reverse the ORIGINAL or incorrect ChartString. Use the View All/View 1 link or the forward/back arrows to toggle between payment information numbers.

AR DJ Payment 2 of 2
  1. The Direct Journal Acctg Entries page displays. Use Seq 1 to back out the original ChartString.
  2. In the Distribution Lines section enter the original ChartField Account and positive Line Amount.
  3. Use the Line Descr field to enter in details of the AR DJ original deposit, i.e. date of original payment, deposit or payment ID.
  4. Use the scroll bar to enter in the original ChartString distribution.
Direct Journal Acctg Entries - Seq 1
  1. Create the accounting entries by selecting the lighting bolt icon.
  2. Then select the Complete checkbox.
  3. Select Save. Select the Return to Search button.
Create accounting entries and mark complete
  1. The Create Accounting Entries, Find an Existing Value search page displays. Select Search or lookup the new Deposit ID. Select from results.
Select payment Seq 2
  1. The Direct Journal Acctg Entries Seq 2 displays. In the Distribution Lines section enter the correct ChartField Account and negative Line Amount.
  2. Use the Line Descr field to enter in details of the AR DJ corrected deposit info, i.e. date of original payment, deposit or payment ID.
  3. Use the scroll bar to enter in the original ChartString distribution.
  4. Select the lighting bolt icon to create the Accounting Entries.
  5. Select the Complete checkbox.
  6. Select the Save button.
Enter in Seq 2 info

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. There is no audio included with this video. Select the play button to start the video.

Video Tutorial Via Panopto

View the external link to Correcting Posted Direct Journal Payments (Zero Dollar Deposits). This link will open in a new tab/window.

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