Two cash receipts were applied to a posted sales transaction. The first receipt was applied in error. You need to remove the first cash receipt from the posted sales transaction. Which set of steps should you perform?
A.
1. Navigate to Unapply Entries from the relevant customer ledger entry. 2. Unapply the second payment. 3. Unapply the first payment. 4. Apply the second payment to the customer ledger entry.
B.
1. Navigate to Reverse Transaction from the relevant detailed customer ledger entry. 2. Reverse the second payment. 3. Reverse the first payment. 4. Apply the second payment to the customer ledger entry.
C.
1. Navigate to Reverse Transaction from the relevant customer ledger entry. 2. Reverse the second payment. 3. Reverse the first payment. 4. Apply the second payment to the customer ledger entry.
D.
1. Post a reversing Cash Receipt and select the customer and relevant payment entry. 2. Navigate to Unapply Entries from the relevant customer ledger entry. 3. Unapply the payment.
Unapplying the second payment first ensures that the system correctly handles the sequence of transactions. Here’s why this is necessary:
Maintain Transaction Order: By unapplying the second payment first, you maintain the chronological order of transactions. This helps avoid any confusion or errors in the ledger entries.
Clear Dependencies: The second payment might depend on the first payment being unapplied. Unapplying the second payment first clears any dependencies, making it easier to unapply the first payment without issues.
Accurate Reapplication: Once both payments are unapplied, you can reapply the second payment correctly. This ensures that the second payment is accurately linked to the correct transaction, maintaining the integrity of your financial records.
This process helps keep your records clean and accurate, ensuring that all transactions are correctly accounted for.
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