Reversing debit / credit notes

This page allows you to reverse a debit / credit note. Tell me more.

Select the “Reverse Note” link provided in the “Select Debit / Credit Note” page.

The “Reverse Debit / Credit Note” page appears.

The system displays the following:

Reversal Document #	A unique number identifying the reversal document generated for the debit / credit note. This number is generated and displayed by the system, when the “Reverse Note” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component.
Status	The status of the debit / credit note. It could be “Authorized” or “Held”.
	Authorized – indicates that the debit / credit note has been authorized.
	Held – indicates that the debit / credit note has been put on hold for payment.

Enter the following fields:

Numbering Type

Use the drop-down list box to select the numbering type for the login organization unit and the “Reverse Account Based Credit Note”, “Reverse Account Based Debit Note”, “Reverse Item Based Credit Note” or “Reverse Item Based Debit Note” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.

Reversal Date

The date on which the reversal document is created (Date Format). Mandatory. The date entered in this field must be a valid date in an “Open” financial year. The system date is displayed by default on launch of the page.

Note: The date entered in this field must be after the date of the debit / credit note and the date on which the debit / credit note was authorized.

Reason #	Use the drop-down list box to select the code identifying the reason for which the debit / credit note is being released. All the reasons that have been defined in the “Maintain Reason Information” activity of the “Reason Definition” business component for the debit / credit note and that are in the “Active” status will be available for selection in the ascending order.
Remarks for Reversal	Any observations or comments regarding the reversal of the debit / credit note (Alphanumeric, 255). Mandatory.

The system displays the following:

Note #	The number identifying the debit / credit note.
Note Type	The type of the note that is to be adjusted. It could be “Debit” or “Credit”.
Customer	The code identifying the customer.
Customer Name	The name identifying the customer.
Finance Book	The code identifying the finance book in which the details are available.
Total Amount	The total amount of the debit / credit note.
Currency	The code identifying currency in which the debit / credit note has been created.
Note Date	The date on which the note was created.

Click the “Reverse” pushbutton to reverse the debit / credit note.

The system generates a unique reversal number for the reversal document.

Status Update

The system updates the status of the debit / credit note as “Reversed”.

The system updates the status of the reversal document as “Authorized”.

Financial posting details

The system saves the transaction amount in the account currency and credits the individual customer receivable account. The transaction amount is also saved in the base currency and the parallel base currency of the company.

The system updates the login ID of the user and the system date in the “Last Modified By” and the “Last Modified Date” fields.

The system displays the following:

Created By	The login ID of the user who has created the account based debit / credit note.
Created Date	The date on which the account based debit / credit note was created.
Last Modified By	The login ID of the user who has last modified the account based debit / credit note.
Last Modified Date	The date on which the account based debit / credit note was last modified.

To proceed, carry out the following

Select the "Viewing account based note" link to see the details of the reversed account based note.
Select the "Viewing part based note" link to see the details of the reversed account based note.
Select the “Accounting Information” link at the bottom of the page to view the account posting information.
Select the “Attach Notes” link at the bottom of the page to add observations or comments regarding the debit / credit note.

Reversing debit / credit notes – An overview

You can enter the date on which the reversal document is to be created. You can also record your observations for the need to reverse a debit / credit note. The system generates a unique number identifying a reversal document based on the numbering type selected. The system updates the status of the reversal document as “Authorized” and the status of the voucher as “Reversed”. The financial entries that have been posted for the debit / credit note will be reversed in the corresponding finance book.