Reverse Stipend or Refund Check

This topic describes how to reverse a stipend or refund a check if it was not successfully received by a student or an institution and needs to be reissued.

Note: Reversing a check in Anthology Finance & HCM is equivalent to voiding a check in Anthology Student.

Steps to reverse a stipend or refund a check

  1. Navigate to Cash and Bank management > Payment reversals > Checks.

  2. Select the check to reverse.

  3. Select Payment reversal.

  4. Enter the date and select a reason for the reversal.

  5. If the Use review process for payment reversals check box is selected on the Cash and bank management parameters form, you must select a journal name to create a journal in the Check reversals journal.

  6. Set the Re-issue check option to Yes to indicate that the check needs to be reissued.

  7. Select OK to post the reversal.

Steps to review a reversal

If review reversals need to be done, perform the following steps:

  1. Navigate to Cash and bank management > Payment reversal approvals > Check reversals.

  2. Select the reversal journal to review, and select Lines.

  3. Review the reversal and select one of the following approval options:

    • To approve and post the reversal journal, select Post or Post and transfer.

    • To reject, select Delete journal lines. Close the form and then select Delete journal lines again to delete the journal header. Close the form.

When you post a stipend or refund check reversal, in addition to the standard reversal procedure, Anthology Finance & HCM creates a new customer payment journal with a line similar to the source payment journal line to which the check was related. Also, if the reversal process does not require a review process (check box is not selected), Anthology Finance & HCM marks for settlement the new journal line with the initial ledger transaction created for stipend or refund.

If a transaction is voided in Anthology Finance & HCM or Anthology Student, a new void transaction is created in Anthology Finance & HCM on the Student Transactions Page, and the vouchers of the original transaction are reversed. Further, when an existing refund or stipend transaction is voided, the vouchers for these transactions are reversed.

To reissue a check, follow the standard procedure for generating checks. For more information, refer to Generate Checks for Student Transactions.