Yes, in version 5.6 and higher it is possible to reverse cheques and bank transactions, as long as you have not cleared them in a posted bank reconciliation.
- Select Bank Transactions from the Common Services, Bank Services icons
- Select the Reverse Transactions Icon
- Type in your bank code or use the finder to select it from the list
- In the source application, select bank services
- In the reverse document field, select either deposits or withdrawals
- Type in a reason for reversal
- Select the reversal date, and fiscal year and period (this is important, as the reversal date and period will determine which bank reconciliation the reversed transactions will show in.
- Use the finder to select the entry number
- Select the post button
- This transaction will now show up in the reconciliation for the date you have selected. The transaction can then be cleared as part of that period’s reconciliation