We have created and posted a sales invoice but not sent it to our
client. Project manager wants to get rid of the invoice. How do I do
Go in to the sales invoice window and recall the invoice (by clicking the box next to the invoice field and searching the invoice; select it.) Then click the 9th icon in the toolbar (looks like an invoice paper with an X over it) to reverse the entry.
I would suggest creating a new invoice with a negative amount to cancel out the original invoice. In the description field I would describe what the Project Manager's reason's for not invoicing the client were. An audit trail is not a trail when invoices get reversed.
The step that Albert described will work and give you the ability to look up the reversal. If you do the reversal this way (we refer to this as a manual reversal) you will want to apply the positive and negative invoices against each other in the Receipts journal so neither invoice sits on your Customer Aged as outstanding.
If you were to reverse the invoice as I discussed, when looking at your AR report or your Sales Journal report you would filter the report to show corrections and both the original transaction and the adjusted transaction (ie the reversal) will show on the reports with seperate journal entry numbers for each.
When I was an end user I would use a manual reversal if I wanted to comment on the reversal or keep a copy of both the invoice and credit. If the invoice was a data entry error and should not have been posted at all, "simply" reversing the entry is a sufficient correction method.
What are other end users doing in this scenario?
Since the customers did not get copies of the original invoices, the manual reversal route is a total waste of invoice numbers, time, paper and henceforth, money. The audit trail is still available with the auto reversal. Those invoices will never get paid so what is it that is being swept under the rug?
The only thing that would warrant a manual reversal is if there is inventory that was shipped out but not being returned and that would be a bad debt situation.
© 2015, Sage Software, Inc. All Rights Reserved. Sage provides small and medium sized organizations and mid-market companies with a range of easy-to-use, secure and efficient
business management software and services - from accounting, HR and payroll, to payments, enterprise resource planning and customer relationship management.
Community Terms of Service | Community Guidelines | Blog List | Community Help