Ricochet makes sure to have you verify and confirm payout details for accuracy before processing payouts in order to prevent any need to revert a payout.
In the off chance you catch a mistake within the same day of having processed a payout, you can cancel pending transactions and revert the payout(s). If it is after the day you processed your payout, you would be responsible for collecting funds from the consignor or creating a negative credit.
How To Reverse ACH Payouts and Cancel Pending Transactions:
In Ricochet,
Click Preferences
Click Admin
Click the Ricochet Pay & ACH tab
Under the Ricochet ACH section,
Click Cancel Transactions
NOTE: A pop up window will present any ACH Payments that qualify for cancellation
Select the box to the left of the transactions needing canceled
Click Continue
Check the box to Revert Payouts
Click Continue
All of the owed data will be restored, and now you can go back, make corrections, and then conduct the payout again as normal.
! IMPORTANT !
If you cannot cancel the transactions but still need to revert the payout, you can do so, but please be advised that you are responsible for collecting funds from the consignor or creating a negative credit.
In Ricochet,
Click Reports
Click Payout History
Select a date range from the date picker to retrieve payouts processed in that time
Click the 3 dots with 3 lines to expand the details of the payouts you wish to revert
The uppermost right icon expands ALL, and the icon to the right of each individual payout expands only that one.
From the expanded view,
Click the red trash can icon to revert
NOTE: An alert will pop up asking you to confirm this action.
Click Yes to confirm
The owed data will be restored, and now you can go back, make corrections, and then conduct the payout again, but remember, you are responsible for collecting funds from the consignor or creating a negative credit for the original ACH transfer.