How Reversals of Accounting Transactions are Handled in Reporting

When running a report that includes reversals, there are 2 things the program looks at to determine whether or not a reversal should be factored into the report.  The report first goes out and looks for any reversal where the reversal/void date occurred within the report date range specified.  If a transaction is found, the report then looks at the original date of the transaction.  If the original date of the transaction is within the specified report date range, the reversal is NOT factored into the report.  If the original transaction date is before the specified report date range, the reversal is included in the report.  Whether or not the transaction was deleted or re-applied is of no consequence.

For example, you reverse a $100.00 PMT that was originally entered in the system and dated 05/01/2012.  You reverse it in the month of August and use a Reversal Date of 08/15/2012.  If you then run a Payment Application Analysis for 08/01/2012 through 08/31/2012 and choose to include Reversals, there will be a negative $100.00 on the report representing the reversal.  Orion finds a reversal within the report date range and then checks the original date of the transaction.  Since the original date of the transaction is outside the report date range (05/01/2012), the reversal is included in the report.

If you run the Payment Application Analysis for 01/01/2012 through 08/31/2012, the reversal will not be included on the report since both the reversal date and the original transaction date are within the specified report date range.