Can some one of you explain how to reverse a posted sales invoice… is it possible to directly reverse an invoice similar to JV reversal or only through credit memos… kindly give me steps to reverse in both cases
End user has posted( qty is wrong) sales invoice,Can some one of you explain how to reverse a posted sales invoice… is it possible to directly reverse an invoice similar to JV reversal or only through credit memos… kindly give me steps to reverse in both cases. I want the Quantity to get updated in Sale order after Reversal or credit memo.
You need to load a credit memo. you can use teh copy document function. There is no reversal similar to a journal reversal or an undo shipment.
if you want to have the same effect of reversal for the accounting entry (minus in debit minus in credit) you can select the “correction” field in the credit memo header
To do this correctly, you have to consider your costing.
Furthermore, if you are you using item ledger entries to analyze your profitability, you will need to consider how entries apply.
You may want to think about turning exact cost reversing on in the sale and receivables set up. You also probably want to think about applying the credit memo to the original invoices entries. In 5.0 this can be done pretty easily.