SAM132052 - Statements: transactions on statements: transaction type: payment debit
Open item statements
Simple statements
Open item statements
The payment debit transactions reported on taxpayer Open Item statements and the descriptions used for the different kinds of payment debits are as follows.
Note: The descriptions on statements created before December 1998 may differ slightly from those in the table below.
| Payment debit | Description on Open Item statement |
|---|---|
| A payment returned by the bank unpaid or a BACS payment recalled by the taxpayer | Payment …….(original date) £…99999.99 returned |
| An amount transferred to OAS | Credit transferred out |
| Cancelled Freestanding credit | Credit …….(date) £…99999.99 cancelled |
| Repayment | Repayment issued |
Notes:
1. When a returned payment is posted on the record the original credit posting is omitted or reduced
2. When Transfers to OAS or Repayments are posted on the record they are displayed with their associated credits.
Simple statements
The payment debit transactions reported on Simple Statements and the descriptions used for the different kinds of payment debits are as follows
| Payment debit | Description on Open Item statement |
|---|---|
| A payment returned by the bank unpaid or a BACS payment recalled by the taxpayer | Payment (original date) £99999.99 returned |
| An amount transferred to OAS | Amount transferred out pending reallocation |
| Cancelled freestanding credit | Credit (date) £99999.99 cancelled |
| Repayment | Repayment - please see note overleaf |