Reverse Entry

Silva · 2008-04-09

Hi,

I have a question about reversing...this is the scenario, I had a complted purchase invoice, then i also apply payment to it and already print the CV...then it found out that it is wrong amount in Purch Inv., i tried to reverse it, but my question is does the INVENTORY will also move by using the reverse entry...How can I deal with this one, any IDEA? hoping for your reply.TY

DaveT · 2008-04-09

Hi Silva,

I'm not sure what you mean by reversing the invoice but the cleanest way is as follows:

1. Reverse the allocation of the payment ( and the payment if necessary)
2. Post a credit memo against the invoice (use the copy doc. as this will allocate it as well)
3. Post the invoice again at the correct value.
4. Post allocation/payment again

The inventory will be ok as the credit and re-invoice cancel each other out.

Hope this helps

Silva · 2008-04-09

Hi

I already reverse the Payment, but my prblem is when i use the purchse Credit memo in, then Copy doc. then when i tried to Seach the App-to Item ledger Entry. I cannot locate the Posted Invoice, and I cannot post the credit memo...but I got the Idea if I use the Item Journal then NEgative adjustment to bring back the Inventory...It is ok to use it just to offset the item in the wrong Purch Invoice?..any suggetion?..hoping for you reply..ty

DaveT · 2008-04-09

Hi Silva,

You don't have to apply it to the Item Ledger Entry. Try it out in a test company the credit -> re-invoice will take care of this for you.

Reverse Entry

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