Reverse Debit Credit Note – A summary of the activity

This activity allows you to reverse the account posting that has been made for the debit / credit note in the selected finance book. You can reverse an account based debit / credit note that is in the “Authorized” status. A debit / credit note is reversed when an error has been deducted after the note has been authorized. A reversed debit / credit note cannot be used. A new debit / credit note has to be created for the correct amount.

This activity allows you to search and select a debit / credit note for reversal. A unique identifier is required for the reversal document along with the reason 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 debit / credit note. The status of the debit / credit note is updated as “Reversed”. You can also view the postings that are made in the different accounts after the debit / credit note is reversed. You can also record your comments regarding the reversal of the debit / credit note.

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