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      Cancel Payment and Process Outside of MakersHub
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        Cancel Payment and Process Outside of MakersHub

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          Article summary

          Below, we outline the steps to take if you need to cancel a payment in MakersHub and make a payment outside of the platform.

          Please note: This information is intended for those who need to make payments outside of MakersHub after a payment has been deducted from their account. If you are not making a payment outside of MakersHub, you can simply reschedule the payment within the platform by referring to our support article: Edit, Reschedule, or Stop a Payment

          Cancel Payment within MakersHub

          When making payments through MakersHub, you can cancel a payment anytime before the funds have been deposited in the vendor's account or the check has been cashed. To stop or make changes to a payment that is in progress in MakersHub, click on the payment you want to edit.

          If the debit from your account is still in process, you can click the Cancel button and MakersHub will cancel the ACH Debit.

          If the debit has been processed and the funds withdrawn from your account, you can cancel the second leg of the transaction paying the vendor by clicking Cancel on the right.

          Similarly, should the transaction be in progress, you can request that the ACH transaction be cancelled.

          Updating QuickBooks to reflect changes

          Unlinking Bill and Bill Payment

          Now that the ACH/Check has been stopped, we need to:

          1. Unlink the payment from the bill in QuickBooks to reopen it for payment.

          2. Record a journal entry to reverse the payment that was made and then canceled. This is necessary as the funds were withdrawn from your account and will be returned.

          Locate the bill payment in QuickBooks Online and uncheck the line associated with the bill. This will unlink the bill from the payment.

          Update the Amount at the top of the page to match the amount paid on the bill. This ensures the payment is reflected within QuickBooks. Then, click Save and Close.

          Create Reversing Journal Entry

          Go to the bill payment from the previous step, click More at the bottom, then select Transaction Journal. This will display the lines you need to reverse in the next journal entry. Please note down the accounts or take a screenshot.

          Go to New and create a Journal Entry. On the first line, select your A/P account, enter a credit for the bill payment amount, and tag the vendor in the 'Name' column. On the second line, select the other account, enter a debit for the same amount, and tag the vendor again in the 'Name' column. Tagging the vendor will ensure the open A/P amount is correctly applied, balancing the total due to the vendor.

          Refunding Payment in MakersHub

          After completing the transaction in QuickBooks, the final step is to issue a refund in MakersHub.

          Locate the payment record in MakersHub and click Request refund on a stopped payment, then confirm. This will initiate the process of returning the funds to your account.

          You can now pay the bill outside of MakersHub and mark the original bill as paid in either QuickBooks or MakersHub.

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