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Level 1

A client cancelled a credit card payment due to using wrong card. Does this reverse the entry that was made automatically on our books?

 
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Level 9

A client cancelled a credit card payment due to using wrong card. Does this reverse the entry that was made automatically on our books?

Not necessarily, see what happens in bank feed. If the deposit goes in and then gets debited back out because the transaction was cancelled, you will likely need to create a refund receipt to match the debit that comes through.

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