Reverse Invoice – A summary of the activity

This activity allows you to reverse the account posting that was 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 while creating the invoice and to avoid raising a credit document like a “Credit Note”. A reversed invoice cannot be reused. A new invoice is 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. On reversal, all the account entries in the finance book are reversed. The status of the invoice is updated to “Reversed”. You can also view the account postings, where all debit transactions are posted to credit and credit transactions are posted to debit after the invoice is reversed.  

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