How to Reverse Fee Receipts
The following checklist outlines how to reverse a Parent Account Fee Receipt after it has been created and the Bank Deposit Report has been generated.
If you haven't run the ‘Bank Deposit Report’ yet, you can delete the Fee Receipt without performing a reversal. In this case, go to TASS.web Finance > Parent Accounts > Receipts to delete the receipt. Search for the receipt, click ‘Edit’ in the Action column, and then click the ‘Delete’ icon at the top of the Receipt Details screen.
Step | Menu Path | Task/Details | ✅ |
|---|---|---|---|
1 | TASS.web Finance > Parent Accounts > Account Information > Parent Account Inquiry | Take note of the incorrect receipt details. Go to TASS.web Finance > Parent Accounts > Account Information > Parent Account Inquiry, and select the Parent Account that had the incorrect fee receipt applied. On the ‘Ledger’ tab, note:
Example The initial balance was $50. You incorrectly receipted $20. The incorrect balance is $30. On the same row as the incorrect receipt, click ‘View’ in the Action column and take note of the:
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2 | TASS.web Finance > Parent Accounts > Charges & Credits > Charges & Credits | Add a new charge to the parent account. Go to TASS.web Finance > Parent Accounts > Charges & Credits > Charges & Credits. Enter the Search Criteria for the relevant Year/Period and click ‘Go’. Select ‘New’. Enter the ‘Parent Code’ of the Parent Account that has the incorrect fee receipt. Select the 'Fee Code' that matches your school's suspense or clearing account. In the ‘Trans Date / Type’ fields, enter the transaction date for the charge, and ensure the type is set to ‘Charge’. In the ‘Net Amount’ field, enter the value of the incorrect receipt. Example If you incorrectly charged $20, you would enter $20. Ensure the ‘Tax Amount’ field reflects the same as what was charged on the incorrect receipt. | 🔲 |
3 | TASS.web Finance > Parent Accounts > Account Information > Parent Account Inquiry | Review the current parent account balance and flag for statements. Go to TASS.web Finance > Parent Accounts > Account Information > Parent Account Inquiry, and select the Parent Account that had the incorrect fee receipt applied. On the ‘Ledger’ tab, check the current balance to ensure it now appears as the initial balance value that was noted in Step 1. Example The initial balance noted in Step 1 was $50. The current balance should now be $50. In the same row as the incorrect receipt, select ‘Flag’ in the Action column. Select a Statement Date, then click ‘Go’. In the same row as the incorrect receipt, select ‘Flag’ in the Action column. Select a Statement Date, then click ‘Go’. Flagging ensures that these transactions do not appear on the Parent’s Statement, once generated. | 🔲 |
4 | TASS.web Finance > General Ledger > Cash Book > Bank Charges and Credits | Create a new 'Bank Charge / Debit' to correct the deposit amount that was recorded when the incorrect receipt was generated. Go to TASS.web Finance > General Ledger > Cash Book > Bank Charges and Credits. Select ‘Bank Charge / Debit’ in the top right corner of the screen. In the ‘Bank Code’ field, select the same ‘Bank Code’ as what was used on the initial receipt (The ‘Bank GL Account’ noted in Step 1). In the ‘Transactions Date’ field, enter the same date as the receipt. (The ‘Transaction Date’ noted in Step 1). In the ‘Transaction Amount’ field, enter the incorrect receipt value. (The ‘incorrect receipt’ value noted in Step 1). Example If you incorrectly receipted $20, you would enter $20 in the ‘Transaction Amount’ field. Enter a ‘Comment’ that reflects your transaction. Click the ‘+Add’ button. Select your school's suspense or clearing account. (The same as the ‘Fee Code’ that was selected in Step 2). Enter a ‘Line Description’ that reflects your transaction. Enter the ‘Gross Amount’ of the incorrect receipt. (The ‘incorrect receipt’ value noted in Step 1). Example If you incorrectly receipted $20, you would enter $20 in the ‘Gross Amount’ field. Select the same ‘Tax Code’ as what was used for the incorrect receipt. The default tax account to be used for fee receipting is defined by the ‘Default Tax Code’ set in TASS.web Finance > Setup Information > Parent Accounts Setup on the ‘GL Integration’ tab. Check that the ‘Tax Amount’ is correct. Click ‘Save’. | 🔲 |
