Reverse and Recreate Officer Funds Transfer

How to Reverse, Correct, and Re-Create an Officer Funds Transfer

Sometimes it is necessary to undo an Officer Funds Transfer in order to change a transaction. 

This could be for a myriad of reasons, but the most common are:

1. Correction to the Income Account
2. Correction to the Payor (either Member or Non-Member)
3. Correction to the Income Amount

With the release of Finances 2.0, this process is now straightforward:

1. Reverse the Officer Funds Transfer
2. Correctly enter the transaction
3. Delete the incorrect transaction
4. Create an updated Officer Funds Transfer (with the original date of OFT)

Note: when there are existing Untransferred Funds, be sure to exclude them from the updated Officer Funds Transfer!

Reverse the Officer Funds Transfer

Navigate to the applicable OFT:

Confirm cancellation of the transfer:

Correctly Enter the Transaction

Navigate to the Payment screen for the correct Payor and re-enter the transaction. In this example, we keep the Payor the same and correct the Income Account from DUES to Donations:

Delete the incorrect transaction

Now use the trash can to delete the incorrect transaction:

Create an updated Officer Funds Transfer (with the original date of OFT)

In this example, we have unchecked the 11/29/2021 transaction, and updated the Date to the original 11/16/2021 (see the two arrows):

And... viola! You have a corrected Payment History and Officer Funds Transfer!

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