Modifying A Payment

This Procedure covers payment modification options. 

Sometimes payments get posted to an account and for some reason, whether it be the debtor said they can't pay or the collector posted the wrong amount, these payments need to be modified. There are several ways a payment can be modified in the ACE system, however, based on the issue at hand, how to modify that payment can differ.

Voiding/Cancelling A Payment 

If a payment is input into the system in error and the payment needs to be cancelled, there is only one way this can be done, by voiding the payment. 

Voiding a payment can only be done when a batch is still open, once a batch closes, the payment can no longer be voided and instead must be credited back to the consumer. (However, if it is a Direct Pay and the batch has been closed, it can be reopened and voided.)

 Below is a screenshot of what a payment looks like while a batch is open and a payment can be voided.

Once the batch has closed and settled, the only option at that point will be to credit back the payment. 

Reversing a payment

A reversal in the ACE application is referred to as an accounting fix. When a reversal is performed, the money stays within the system but it becomes untied from the transaction so it can be moved. Reversals CANNOT be undone, there is not a way to reverse a reversal. A reversal should only be used if an account is posted to the wrong account and the funds need to be moved, or if the date of the payment needs to be adjusted. Consulting with your support team is strongly advised before performing a reversal. 

Should you feel that a reversal is needed, the following steps will then need to be performed.

1.Hit the reversal button and apply the payment to an adjustment batch.

2. Locate the account you are needing to transfer the funds to and post an adjustment to the adjustment batch for that account. Please refer to the screenshots below for reference.

When posting the adjustment to the new account or when modifying the date for the payment make sure you choose the adjustment batch, insert the amount for the payment, the date and be sure to choose the correct spreader as seen in the below screenshot.

After inserting the information in the Payment Information field you then MUST fill out the correct information in the Adjustment Information on Account # section. This section you will again input the amount of the payment, who the receiver is, and the adjustment reason.

Once all of the above information is input you will want to check to make sure that the spread looks correct in the Transactions section, if everything looks to be in the right place go ahead and hit apply and post the transaction to the account. Keep in mind, unless specified, adjustments and reversals may not show up on invoices. Be sure to check your invoice profile if you need to include this on your invoice to your client.

Un-spread/Spread

Lastly, you can un-spread/spread a payment. Just with reversals, un-spreading a payment can be tricky and should be considered as a last resort. 

There should be only one reason to un-spread a payment and that is if the wrong spreader was used when the payment was taken. 

Once a payment is un-spread, if there arises another known issue with the payment, it is advised that the payment then be respread before any further modification or changes are made to that payment.

Step 1-

Click spread from the transaction, you will see the payment amount and then the remaining amount, the remaining amount will be populated until you choose a spreader.

Step 2 - 

 Scroll down to the transaction section and check to make sure the spread of the payment is correct. Do not worry about the fields in the spread section being empty, unless manually manipulating the spread those fields do not need to be populated or modified. If your spread looks correct, hit apply and the payment will respread.