Revert a Payout - EFT (Electronic Funds Transfer)

Did you send an EFT (Electronic Funds Transfer) and the amount was incorrect?  Learn how to update your deal in this article.

IMPORTANT: The steps will differ depending on whether its before or after the Payload.co cutoff time of 3pm.

 

Revert EFT Payout before 3pm

1. Navigate to the Deal Page > Payouts > Remaining
2. Click on any the Payments section to expand it

3. Click on Payment Made to open up the payment


4. The Payment Receipt will open, click on Void in the top right-hand corner, the payment will now go from "Processing" to "Canceling"

Note: The canceling step will take a few minutes as it is sending a notification to Payload.co

 

 

5. Next, as a best practice, we recommend alerting Payload.co via email or a phone call that you have voided the EFT.

6. Navigate back to the Deal Page > Payouts > All tab

7. Click on Revert > All Postings  

IMPORTANT: Before taking action in this screen, you must confirm that the payment and amount paid have been canceled from the Bill.  This may take several minutes.

    • Once the payment has successfully canceled:
        • Bill line will no longer have a Payment# or Amount Paid, and the Action Required will show Revert (as shown below)


8. Action Required:

  • Invoice & Payment Received: Void
  • Bill: Revert (this will be the only option and will be greyed out)

9. Next, you will need to correct the deal and reprocess the payment:

  • Unapprove the Deal
  • Make the necessary adjustments
  • Approve the Deal
  • Confirm Payment in the Payouts > Closing tab
  • Process Remaining Payout in the Payouts > Remaining tab

 

 

Steps to Revert EFT Payouts after 3pm

If the EFT was already sent and the amount was incorrect, the deal will need to be corrected, follow the steps below to void/disconnect the appropriate items and adjust your deal.

1. Navigate to the Deal > Payouts  

2. Click on the Revert button > All Postings

3. The following columns are displayed:

  • Reference #: The Invoice/Bill number will be displayed here
      • INV00000001 = Invoice
      • BILL00000001 = Bills 
  • From/To: Payor/Payee
  • Payment #: The Payment Received/Payment Made number will be displayed here
      • PR0000001 = Payment Received
      • PM0000001 = Payment Made
  • Amount Paid
  • Action Required:
      • Void: This will void both the Invoice/Bill and the Payment Received/Made
      • Disconnect: This will disconnect the Payment Received/Made from the Deal and will void the Invoice/Bill

3.  Since the funds were already deposited, select the following options:

  • Invoice/Payment Received:  Select Void
  • Bill/Payment Made: Select Disconnect

4. Click Confirm

5. Next, click Unapprove in the bottom right action bar


6. Make any necessary adjustments to the calculations within the Deal

7. Now, Approve the deal again and click Confirm Payment in the Payouts > Closing tab

8. Click on the Remaining tab and associate the Payment Made (for the check deposited) to a new Bill

  • First, click on the three dots
  • Select Create Bill

  • A pop-up will appear notifying you a bill will be created for the new amount, click Save & Proceed

 

9. Next, click on the Bill 

 

 

10. The Bill will be displayed, click Apply Credits where you will see the Payment Made amount

 

11. The amount will automatically get added to the Amount to Bill field, click Save


9. Navigate back to the Deal Page > Payouts > Remaining tab

  • The previous amount paid will now be applied to the bill within the Deal

10. Was the agent underpaid or overpaid?

  • If underpaid, process additional payout to the agent 
  • If overpaid, you can choose to invoice the agent and record a payment 

 

If you need additional assistance, please reach out to the SkySlope Books Support team!

Updated

Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request

Comments

0 comments

Please sign in to leave a comment.