dave (User)
Expert Boarder
Posts: 109
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Void a transaction in AR 12 Years, 11 Months ago
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Hello
I was going thru videos of AR and i don't see any video on how to void transactions in AR if we make a mistake in the invoice date, amount etc… .. please advice
thanks
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Re:Void a transaction in AR 12 Years, 11 Months ago
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1) If the transaction is in incomplete status you can delete it. Make sure "Allow Transaction Deletion" is checked in System Options.
2) Create a transaction type Void with Open Receivables and Post to GL options were set to ‘NO’. A transaction can be voided by changing its transaction type to "Void".
3) You can always “reverse” the transaction distribution by creating a credit memo.
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dave (User)
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Posts: 109
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Re:Void a transaction in AR 12 Years, 11 Months ago
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Hello
1) I understand this
2) Unable to understand - can you pls provide teh steps to do tis . does this requires any setup chnage
3)This i know but we don't want to do this - creating credit memo
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dave (User)
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Posts: 109
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Re:Void a transaction in AR 12 Years, 11 Months ago
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Hi
But what about if the invoice is complete and posted in GL
for example one invoice for March and I want to cancel in June because customer require that please cancel and send me again and the price change or description whatever, o what's the process. I know we cannot VOID the invoice and re-enter it again
Please advice
Thanks
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dave (User)
Expert Boarder
Posts: 109
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Re:Void a transaction in AR 12 Years, 11 Months ago
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If i do the step2 --
Then i think it will have a problem in reconcillation to GL .. Because the Void trx entry is in Subledger and not posted to GL.
The GL balance will not match to AR
Please advice
Also, pls advice what can i do when the trx is posted to GL and then i need to cancel or void that tranaction in AR
thanks
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Re:Void a transaction in AR 12 Years, 11 Months ago
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If a receipt is entered against the transaction or if the transaction is accounted, then it cannot be voided.
A Credit Memo can be created to nullify its effect fully. This will effectively reverse, void, or cancel the Transaction.
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