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How to reverse the inventory after invoice released and cancel the invoice?

  • 11 November 2020
  • 2 replies
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Hi

Not sure if anyone know how to reserve the inventory once the invoice released?

We encountered a senario as below

Customer last mins cancel the shipmnet which mean the invoice that we generated is need to cancel.

 

How to cancel invoice and reverse the inventory ?

Could anyone give me a guide/Step?

 

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Best answer by naveenb74 11 November 2020, 10:32

Hi @erin,

 

How to cancel invoice and reverse the inventory ?

 

We cannot cancel the Invoice, which is already released, but you can like below it will reverse the Inventory and nullify the balance.

  1. Create a Return type(RC type - RMA behavior) of order
  2. Create Receipt for this order (From Actions) 
  3. It will create shipment type as a “Receipt” and then click on Update IN (It will reverse the Inventory)
  4. Prepare an invoice and then will create a “Credit Memo” document. 
  5. Create a “Customer Refund” in the Payments and Applications screen for the actual payment.
  6. Apply the below documents to the Actual Payment and release. Payment and Invoice will be closed and nullify balance.
    1. Credit Memo
    2. Actual order Invoice


I did one sample example, plese find the screenshot for reference.

 

 

 

 

 

Best Regards,

Naveen B



 

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2 replies

Userlevel 3
Badge

Hi @erin,

 

How to cancel invoice and reverse the inventory ?

 

We cannot cancel the Invoice, which is already released, but you can like below it will reverse the Inventory and nullify the balance.

  1. Create a Return type(RC type - RMA behavior) of order
  2. Create Receipt for this order (From Actions) 
  3. It will create shipment type as a “Receipt” and then click on Update IN (It will reverse the Inventory)
  4. Prepare an invoice and then will create a “Credit Memo” document. 
  5. Create a “Customer Refund” in the Payments and Applications screen for the actual payment.
  6. Apply the below documents to the Actual Payment and release. Payment and Invoice will be closed and nullify balance.
    1. Credit Memo
    2. Actual order Invoice


I did one sample example, plese find the screenshot for reference.

 

 

 

 

 

Best Regards,

Naveen B



 

Userlevel 3
Badge

@naveenb74 @erin 
hi, buddies. how about we vote for Acumatica to implement a real “invoice cancellation” function. I think it would be helpful and time saving.
you can vote here:
 

 

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