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impact of invoice reversal to accounting

good day experts!!

what impact does invoice cancellation/correction have on accounting department wen they hav already cleared the invoice?

can the invoice repeatedly be paid to contractors becauase of invoice reversal? these is in terms wen trying to correct the invoice e.g the wrong contractor was invoiced, or wrong items where charged. This means i have to reverse the whole invoice then post it again.The reversed invoice has already been charged by accounting.

help

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3 Answers

  • Best Answer
    Feb 16, 2011 at 11:29 AM

    Hello,

    The Account Document of am Invoice after posting to Accounts has two status - Open & Cleared.

    Now in your case:

    1. If the Accounting Document is still open - Just reverse the Invoice & system will post another Accounting Document which will reverse (cancel) the Accounting Entry caused by the Original Invoice.

    2. If the Accounting Dcoument is cleared against Incoming Payment - Ask the FI person (end-user) to reset the documents & mark the Accounting as Open. Once the Accounting Document is open, you can cancel the Invoice & the effect as in the point No.1 above is generated.

    Hope this clarifies,

    Thanks,

    Jignesh Mehta

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  • Feb 16, 2011 at 05:10 PM

    >

    > good day experts!!

    >

    > what impact does invoice cancellation/correction have on accounting department wen they hav already cleared the invoice?

    >

    > can the invoice repeatedly be paid to contractors becauase of invoice reversal? these is in terms wen trying to correct the invoice e.g the wrong contractor was invoiced, or wrong items where charged. This means i have to reverse the whole invoice then post it again.The reversed invoice has already been charged by accounting.

    >

    > help

    Can you explain you business case ?

    Check note 1259505 & its related notes may help ?

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    Former Member
    Feb 22, 2011 at 02:00 PM

    does making a credit memo impact the cleared document in the accounting document?

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