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Cancellation / Reversal of Credit memos and Check for payment

I have few cases where the credit memos and check for payment documents have been keyed with an incorrect posting date.

What should be best approach to reverse these transactions.

replied

Hi Somchitra,

in such situations ideally you would use the cancellation document standing on the original document, alas, a credit memo has no target document.

You will need to create an invoice with exactly the same data as in the credit memo & then internally reconcile these transactions. If the credit memo was in itself generated from an invoice, you need to cancel that reconciliation first. After that you re-create the credit memo with exactly the same data, just with the correct dates.

To cancel the cheques for payment you need to cancel the payment itself with the original document date & 'Cancelled' will be put in the 'Remarks' on the cheque.

You will then need to recreate the payment with the correct dates.

If you have already confirmed the printing of the cheque, you'll need to issue a new cheque number & destroy the printed copy, if it hasn't been printed, you can select the appropriate number in the 'Cheque number confirmation' window.

As always when correcting transactions, please keep an eye on the stock transactions & make sure they are correct. Also, for auditing purposes, always enter an approriate text in the 'remarks'.

All the best,

Kerstin

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