on 03-04-2008 6:51 AM
Hi,
Can any body tell me the possible reasons for cancellation of invoices ?
Helpful answers will be rewared
Thanks & Regards,
V.Raghavender.
Dear Raghavender
There could be many reasons. Few among them are
1) Based on stock available in system, you would have billed but physically there would be some quantity short.
2) Only after saving the billing document, you would realize the unit rate is wrong
3) If wrong Payer is flowing
4) Wrong Billing Date
thanks
G. Lakshmipathi
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hello, friend.
reasons for cancelling invoice:
1. errors that could not be rectified and that require re-creating transactions (i.e. changes in FICO settings or control objects)
2. customer request
3. user-company policy (sometimes, it is easier to cancel a billing document and re-creating it rather than doing invoice correction or credit memo request, but this is not best practice)
4. posting to wrong GL account (there are alternatives to this, though)
5. wrong tax calculation (government requirements)
6. just about any other reason that your company adopts
regards.
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In case of Incorrect Date.
Say the pricing for a material has to be of previous year however due to year change new prices are implemented and these prices are copied in the invoice, its incorrect.
You cancel the invoice and reinforce with correct prices.
Secondly wrong quantity is billed. If customer received y and the invoice is for X cancel and reinforce.
If wrong partner in invoiced.. say you have more than one bill to party and the wrong partner is invoice, cancel ...
and you know, hehehe
Regards
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