Reopen a Financed Transaction

Access

No action can be performed on a closed Finance Receivable batch transaction. (A closed batch has a zero amount due from the Finance Company.) Use the Closed Item Reinstate program to move transactions to an open batch, where changes and adjustments may be made. For example, a transaction may have been posted to the wrong account (closed in error), or other adjustments need to be made.

Only closed batches can be accessed from the Closed Item Reinstate program. For processes that can be completed on open batches, see Maintain Financed Balances.
The number of days to retain closed items in Finance Receivable history is determined by the Number of Days History field in the Financing Control Settings.
The Closed Item Reinstate program reopens a closed transaction by reversing the payment activity.
The transaction is moved to an open batch of the original batch date and Payment Type. If an open batch does not exist, a new open batch is created.
If FR transmission is active, the transmitted flag is set on the re-created batch to prevent it from being re-transmitted. (Transactions are transmitted after the adjustments are made.)
Also available from this program is the ability to Resubmit, Rewrite, or Reject closed transactions.

If the Action to be taken on the transaction is Re-Submit, Re-Write, or Reject (see below), it is not necessary to first reinstate the transaction. These processes automatically reinstate the transaction before performing the chosen action.