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Reversing Transactions

Last Updated: Jul 14, 2016 02:31PM CEST

● Reversing Transactions

● Bulk Reversing Transactions

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Reversing Transactions

Any transaction, whether it's posted automatically - penalties, automatic fees, interest accrued, API transactions - or manually - arbitrary and predefined fees, manual repayments - can be reversed by a user with that permission.

 

To revert a transaction open the account where the transaction was posted > click on Transactions > Actions > Reverse > enter the reason for the reversal > Reverse the transaction.

 

 

 

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Bulk Reversing Transactions

 

Bulk transaction reversal is allowed based on permission, two permission types being available:

  • Bulk Loan Corrections - under Loan Accounts

  • Bulk Deposit Corrections - under Deposit Accounts

When the permissions above are enabled, the user will have access to "Reverse" button on all transaction. If the bulk transaction reversal permission is not enabled for the user, then the user will be allowed to perform reversals only on the last transaction.

When reversing a transaction which has other transactions after it, Mambu will automatically reverse all the transactions until the reversed one and then will repost them. Mambu captures the amount and entry date and will re-apply the amount on the initial entry date. For Interest the amount might differ, but it will be recalculated by Mambu, depending on the reversed transaction. Mambu will also use the account's current branch and center (if it has changed since the original transaction was logged). The custom field values from the original transaction will be moved to the new one. The reversal transactions will be linked to the current user.

 

 Only transactions in non-closed accounts can be reversed. The option to reverse transactions won't be available in closed accounts.

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