BizTerm Definition
Reversal
Full Definition

1. An ISO term. A message informing the sender of the original message that the message cannot be processed as instructed i.e. is undeliverable, unprocessable or cancelled by the receiver. 2. A transaction type which is defined along side the normal posting set for a transaction. The reversal postings normally perform the exact opposite to those of the related posting set. For example a posting set for cash withdrawal may debit the customers account and credit a cash account. The reversal transaction will debit the cash account and credit the customers account for the same amounts. See also direct entry, transaction processing and posting set.


Previous Biz Term Next Biz Term