Cancel Cash Settlements

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Last updated: Jul 13, 2023 by Nancy Cohn (Deactivated)
3 min read

In the Cancel Cash Settlements panel, you can cancel settled cash activity and indicate whether the cash settlement is reprocessed automatically or manually. This process cancels the settlement of the cash, but not the original cash activity. You can use this option to cancel the cash settlement of non-transactions and trades. Non-transactions include cash contributions, cash withdrawals, miscellaneous income, and miscellaneous expense. 

Cancel a Cash Settlement

To cancel a cash settlement:

  1. In Accounting Center, in the left navigation pane, click Transactions > Cash > Settlements > Cancel Cash Settlements. 
    You see the Cancel Cash Settlements panel. 

  2. Complete the options on the Cancel Cash Settlements panel.

  3. Click Submit.

Example - Cancel Cash Settlement

The Cancel Cash Settlements panel allows you to query for specific settled cash activity you want to cancel: The following example shows data you enter in the Cancel Cash Settlements panel.

 

Enter the following information:

  • Entity ID/Name. Enter the appropriate information. This panel only cancels cash settlements on the primary basis.

  • Date Range. Enter a date range or you can enter the same date for both the Begin Date and End Date fields.

  • Security Information. In this example, you are canceling the settlement for 111.00 entered in the Add Misc. Income - Asset Specific panel. After you enter the remaining security information, the panel queries for any settled cash activity that meets the entered parameters.
    For settled contributions, withdrawals, and miscellaneous income/expenses (non asset-specific), you need to enter the cash security Identifier in the Cross Reference ID field. For example, if the activity was processed to US Dollars, the cash identifier is CASHUSD. See the following figure. You can find a full listing of all available currency identifiers in Issue Viewer.

  • Select Row to Cancel. If there are multiple settled cash activities returned in the Select Row to Cancel field, as shown in the previous figure, select which of the cash activities that you want to cancel and click the hourglass icon to view all the returned cash activities.

  • Manual Settlement Switch. The default setting for this field is Leave Unaltered, which means that the selected cash settlement item that is being cancelled will be automatically reprocessed the next time the global Run Contract Cash process is executed. If you change this field to Update to Manual, the selected cash settlement item needs to be manually settled and will not be picked up by contract cash.

To cancel the 111.00 miscellaneous income item, click the Submit button to process the settlement cancel.

To verify the cancellation, re-query the Cash Journal for settled activity and set the Show Cancels field value to Yes. You can select the following query options for the Cash Journal report.

You see the Cash Journal report results.

Cash Journal report

With the Show Cancels field set to Yes, the original transaction as well as the cancellation are displayed.

If you run the report to query for traded cash, the 111.00 miscellaneous income is still shown. This is the expected result since there is only the cancelled the cash settlement.

Cash Journals report

With the settlement cancelled, the cash activity is also available again in the Run Multiple Settlements panel to be selected for re-settlement, as shown below.

Run Multiple Settlements panel