How to Set up the EFT Returned Payment Invoice Item for Previously Funded Transactions (formerly Z-Transaction)

How to Set up the EFT Returned Payment Invoice Item for Previously Funded Transactions (formerly Z-Transaction)

When an EFT Payment is returned as Previously Funded a negative payment batch is created to reverse the payment and unapply the payment from the invoices to which was originally applied. The system will also create an invoice for the amount of the payment using the EFT Return Invoice Item.

Sedona Setup

Under Sedona Setup or under the General Ledger Module go to the Chart of Accounts and make sure there is a GL Account setup for EFT Returned Items or ACH Z-transactions, etc.  If you do not find a GL Account already setup then you will need to create one.  

Once you have the GL Account then you will need to go to Sedona Setup and select AR - Invoice Items.  Look for an Invoice Item that references a Returned Check, Z-transactions, EFT Returned Payment, Etc.  If you do not see one then you will need to create one and link it to the GL Account from above. Do not select Taxable, Available in Sales or Available in Service

 
 Go to Invoice Descriptions in Sedona Setup and if there is not already an invoice description for the Returned Item, you will need to create one. 

 
 Go to AR- Setup Processing and you will see a section "EFT Returned Payment Invoice" that requires you to select an Invoice Item and Depending on the version of Sedona that you are on, it may also require you to select and Invoice Description.  If there is nothing entered in these fields then select the Invoice Item you created and also the Invoice Description, if needed, and select Apply.