Reversing the value of item

Dear Experts,

When I post the purchase invoice:

  1. First the receipt is posted - quantity is increased

  2. Second the invoice is posted - Value is increased

Now my question: Is there any way i can reverse (undo) the 2nd step. Just nullify the effect of invoice but not the receipt i. e., I want to reverse the inventory value and the respective GL entries but want to keep the item ledger intact.

Your advice is highly appreciated.



No its not possible,

You need to reverse entire entry.

You could issue a PCM (Purchace Credit Memo) to reverse your GL entry! On the PCM form click on Function>Copy Documents and pull your PI # then post your PCM. It will reverse your PI (step 2 above) and you can invoice your order again!

To reverse both steps 2 and then 1, you will create Purchase Return Order.

a Purchase Credit Memo would reverse both steps 2 and 1.