The trust cancellation (transaction number prefix TX) is used by ContactsLaw to record the cancellation of cheques and receipts.

Transactions of this type are posted automatically by the system when the original transaction is cancelled. They cannot be posted separately.

Cancellation transactions debit/credit the trust balance on the same files as the original transaction, but in the opposite direction.

They take effect:

• For cancelled payments, on the date that the bank was notified of the cancellation or, if the bank was not notified, on the date that the cancellation was recorded.
• For cancelled receipts, on the date that the cancellation was recorded.

Cancellations do not appear on reconciliations and thus cannot be reconciled.

Double-clicking a cancellation transaction will open the original transaction (which bears an annotation indicating that it has been cancelled).

See also

Cheque cancellation