Reverse Invoice – A summary of the activity

This activity allows you to reverse the account posting that has been made for the invoice in the selected finance book. You can reverse an invoice that is in the “Authorized” status. An invoice is reversed when a major error has occurred during the creation process. The invoice is reversed to avoid raising a credit document like a “Credit Note”. A reversed invoice cannot be reused. A new invoice has to be raised for the correct amount.

This activity allows you to search and select an invoice for reversal. On reversal, the system generates the reversal document that is posted in the finance book. This reversal entry annuls the entry made in the finance book for the invoice. The status of the invoice is updated to “Reversed”. You can also view the postings that are made in the different accounts after the invoice is reversed.

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