1. Find the payment online. In the Payments window, select the payment, and click Actions.
2. In the Payment Actions window, select Initiate Stop.
3. Click OK to have Oracle Payables update the payment status to Stop Initiated.
4. Save your work.
5. Use the Stop Payments Report to review all current stop payments. Oracle Payables does not list any stop payments that were initiated but then released or voided at a later time. Oracle Payables sorts the report by bank, bank account, payment document, and document number.
Releasing Stop Payments
How to Release Stop Payments
1 Find the payment online. In the Payments window, select the payment and click Actions.
2 In the Payment Actions window, select Release Stop.
3 Click OK to have Oracle Payables release the stop on the payment and reset the status to Negotiable.
4 Save your work.
(N) Payments—>Entry—>Payments (B) Actions
When you void a payment, Oracle Payables automatically reverses the following:
- The accounting and payment records. Your general ledger will then have the correct information, and the status of the paid invoices is then reset to Unpaid.
- Any realized gains or losses on foreign currency invoices recorded as paid by the payment
- All related interest invoices when you void a past-due payment for the supplier site (if you enable the Allow Interest Invoices option for a supplier site)
- If you withhold taxes at payment time and you void a payment that paid an invoice with an associated withholding tax invoice, then Payables automatically creates a negative (reversing) invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You determine when you withhold taxes by the Apply Withholding Tax
option you select in the Payables Options window.
Because you cannot reverse a void payment, before recording it have the uncashed payment document you want to void in your possession, or have proof that the payment did not clear the bank and that the bank was able to stop payment Review the invoices paid by that payment before you void it to make sure that you are voiding the correct payment. You can review these invoices in the Invoice Workbench.
How to Void Payments
1. Find the payment online; and from the Payments window, select the payment, and click Actions.
2. In the Payment Actions window, select Void. Review and, optionally, change the void date and the GL date you want Oracle Payables to use for the accounting distributions.
- To change to Unpaid the status of the related invoices, select None for the invoice action. The invoices will be available for payment on a new payment document. Click OK to have Oracle Payables void the payment document.
- To apply a hold to the related invoices, select Hold for the invoice action, and select a Hold Name in the Hold window. Click Hold, then click OK to have Oracle Payables void the payment document, reset the status of the related invoices to Unpaid, and apply the hold you selected to the related invoices.
- To cancel all related invoices and reset their amounts to zero, select Cancel for the invoice action. Click OK to have Oracle Payables void the payment document and cancel the related invoices.
3. Save your work.
Voiding Unused Payment Documents
Payment Documents: Additional Information Region
(N) Setup—>Payment—>Banks (B) Bank Accounts (B) Payables Documents
You can do a mass void of unused check stock in the Document Information region of the Payment Documents window.
Oracle Payables prevents you from voiding negotiable payments using this window.
1. To query the bank, choose Bank Accounts, and query the bank account in the Bank Accounts window.
2. Click Payment Documents to navigate to the Payment Documents window.
3. In the Additional Information region, choose Void Unused Documents.
4. Enter the range of documents you want to void, and enter a void date. These documents will no longer be available for use.
5. Save your work.
Void Payment Restrictions:
INVOICES PAID BY ANOTHER PAYMENT: When you void a payment, you cannot cancel a related invoice if it was partially paid by a second payment. Instead, when you choose Cancel Invoice, the system applies an ”Invoice Cancel” hold to the invoice for your reference. You can release the hold manually in the Invoice Holds window.
CANCELLING ASSOCIATED INVOICES: If you attempt to cancel an invoice that has been partially paid by another payment by using the Cancel Invoice Action, instead of cancelling the invoice, Payables
applies an Invoice Cancel hold to the invoice. This hold is manually releasable.
CLEARED PAYMENTS: You cannot void a payment that the bank has already cleared.
PREPAYMENTS: You cannot void payment on a payment document that pays a prepayment that you have applied to an invoice. You must first unapply any prepayments, and then you can void the payment.