This guide outlines the steps required to reverse an existing vendor invoice and issue a credit within the system.
Prerequisites & Important Considerations
- Paid Invoices: If the invoice was paid via check, you must un-apply and void the check in the system before attempting to reverse the invoice.
- Unpaid Invoices: Can be reversed immediately without extra steps.
Step 1: Navigate to the Invoices ModuleGo to Accounting > Payables > Invoices.
Step 2: Locate the InvoiceSearch for the target invoice in the list and click Options at the far right of the row.
Step 3: Reverse the InvoiceSelect Reverse Invoice from the dropdown menu. This action cancels the original invoice balance and posts the credit to the vendor's record.
Step 4: Issue the Vendor CreditOnce the invoice is reversed, navigate to vendor payments to issue or apply the credit balance to the vendor's account as needed.