Reversing Supplier Transactions

Modified on Mon, 05 Feb 2024 at 01:52 PM

TABLE OF CONTENTS


Introduction

Facility:  AR_I_002

Menu Path:  Suppliers and Purchases → Inquiries → Supplier Inquiry 


Transaction reversals can be carried out on Customer transactions, Supplier transactions and Journal Entries.


Reversing Supplier Transactions

  • Select the Supplier        .
  • Click on the transaction number that you would like to reverse.


  • This will open another form as illustrated below.
  • Select the type of transaction to be used for the reversal (e.g. Credit Note or Payment Reversal).
  • Click on the 'Confirm' button.    



Once the reversal is posted, a reversing transaction (depending on the original transaction selected) will be created and automatically allocated to the original transaction.


In cases where a reversal is created against a transaction that has already been allocated, the reversing transaction will not be automatically allocated with the selected transaction and will remain outstanding. 


Notes:
From Receivables you can only reverse transactions that have been created from the Receivables module.
From Payables you can only reverse transactions that have been created from the Payables module.
From Nominal you can only reverse transactions that have been created from the Nominal module.
Insurance Transactions are reversed from Insurance - Processing - Amendments.


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