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

  • 11 November 2020
  • 3 replies
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  • 103 replies

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 Naveen Boga 11 November 2020, 10:32

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3 replies

Userlevel 7
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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 6
Badge +5

@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:
 

 

Userlevel 5
Badge +1

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



 

Hi Naveen,

I am not sure if this falls into this category, but one of our customers has processed Drop-Ship Sales Orders to that point that the Purchase Order was created and the Product received and issued as part of the process.
So usually, as the customer wasn’t invoiced yet, I would go with a Return of the Purchase Receipt.

The problem for Dropship is that the material is not there but was issued out.
So (1) The inventory would go negative for and (2) the Issue transaction is not reversed meaning the IN GL transactions are wrong.

How would I go about reversing an issue and a Purchase Receipt?

Basically what happened is that the Vendor said they shipped the product but never did and the system reflects otherwise now.

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