:confused: I have errouneously applied a payment to the wrong customers account. I need to reverse the payment and apply it to the right customer. How can I remove the payment I have already applied?

Thanks
Denisep

If the payment is finalized is impossible to remove.
You can insert a new payment with minus sign on the wrong custumers and then insert the payment on the right costumer.

I have applied a negative cash receipt to clear out the original misapplied receipt. However, the two items still appear on the a/p aging. Is there any way to clear them off?

Hi,

I have come across this problem myself.

Check through your transaction types there are normally two defaultsOne can be used for matching credit notes to invoices and the other one matches unallocated payments to invoices. If you can't find them they are quite easy to set up.
(NB: Strictly speaking it's four defaults one pair for sales one pair for purchases)

Use the payment allocation transaction to clear off the negative payment against the positive payment. ... if that does not work, it happens occasionally for other reasons then you may have to consider making dummy invoices and dummy credits which are posted to the same account (i.e. miscellaneous sales) then match off the credit & invoice to the respective payments. but you will need to use both default transaction types for the matching off.

regards, P