Reversals

A reversal is a transaction that negates another transaction. Reversals are used to correct mistakes, for example, if a cheque bounces after you enter a payment into Smile, you can reverse the receipt and remove the credit from the account balance.

Reversals are listed in the account history and sometimes appear in statements and sales reports, as follows:
  • If the original transaction and the reversal both occur within the dates of the statement range, they do not appear on the statement and sales report.
  • If one transaction occurs within the dates of the statement range, but the corresponding transaction occurs outside the statement range, the transaction in range appears on the statement and sales report.

Example: Reversals and statement ranges

The following diagram shows you an example of when a reversal appears on a statement. This example has two transactions, a surcharge that occurs on 30 April and a surcharge reversal that occurs on 2 May.
  • If the statement range is 15 April-14 May, the surcharge and reversal do not appear on the statement.
  • If the statement range is 1 May-31 May, the surcharge does not appear, but the reversal does appear on the statement.

Figure: Statement ranges and reversals

The image shows when the reversal appears on a statement.