Unapprove a transaction in the Accounting screen

You can unapprove transactions that have the status Approved. The Approved status means the transaction hasn’t yet gone through payment processing and been posted.

To unapprove a transaction, access the Accounting screen of an exposure file, and:

  1. In the Transactions table, navigate to a transaction with the status Approved.
  2. Navigate to the Actions column of the transaction and select the ellipsis. A dropdown will appear.
  3. Select Unapprove. A Payment pop-up window will open, asking the following:

    Are you sure you want to unapprove payment?

  4. Select Yes to unapprove the payment. Select Cancel to return to the Accounting screen without unapproving the transaction.

Usage consideration

When you select Unapprove:

  • The status of the transaction will change from Approve to Draft.
  • The Claim Accounting Summary and associated Exposure Accounting Summary will change, as the payment transaction amount will move from the Payment column back to the Reserve column.
  • The system will make automatic entries in the Transactions table that document that change.

See Figures 1 and 2 that demonstrate changes made to the Exposure Accounting Summary and the Transactions table.

Figure 1: A payment transaction, in the amount of $1,800, is approved. This reduces the Reserve column from $3,000 to $1,200.
Figure 2: The payment transaction, in the amount of $1,800, is unapproved. The Reserve and Payment columns are updated to reflect this change, the payment transaction status is changed to Draft, and an adjusting entry is automatically created in the Transactions table.