Reverse Receipt – A summary of the activity

This activity allows you to reverse the account postings that have been made for the receipt amount in the selected finance book.  You can reverse a sundry receipt that is in the “Authorized” status. A sundry receipt is reversed when a major error has occurred during the creation process. A receipt is reversed to avoid raising a debit document or credit document for adjusting the receipt amount. A sundry receipt is reversed when the instrument through which the payment has been received has been bounced. A reversed receipt cannot be used again. A new receipt must be raised for the correct amount.

This activity allows you to search and select a sundry receipt 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 sundry receipt. The status of the receipt is updated to “Reversed”. You can view the details of the invoice before reversing it. You can also view the postings that are made in the different accounts after the invoice is reversed.

Getting familiar with the pages inside

What you can do in this activity

Reverse sundry receipt

Reverse sundry receipt

Sundry receipts can be reversed to nullify the entries that have been posted in the selected finance book. A reversal document is generated while reversing a receipt. A sundry receipt that is in the “Authorized” status can be reversed. The status of the receipt after reversal is updated as “Reversed”. This reversed sundry receipt cannot be used again.

•  Go to “Reverse Receipt” page.

•  Enter the reason for reversal and reverse the receipt.