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Reverse a System Generated Invoice

Overview:

The Reverse a System Generated Invoice window allows users to quickly and easily reverse AR invoices that were created in PENTA's automated invoice processing module. This process will remove the invoice from the Accounts Receivable Aging, as well as back out the accounting entries that were created during the creation of the invoice. During this process, you will need to select the reversal date, which is the date the reversal will be posted, as well as optionally include a reversal reason code providing additional information on why the reversal was needed. One additional feature this process provides after the reversal, is the ability to automatically restart the invoice process for the invoice. This reverts the invoice back to the billing process, as if you just kicked off the Calculate Invoices step. PENTA will also keep any manual adjustments made, and gives you the ability to quickly pick up where you left off, make any new adjustments, and regenerate the invoice. 

NOTE: PENTA will not allow a reversal of an AR invoice if the invoice has cash receipts posted. In that situation, you have the option of voiding the cash receipt, and then reverse the invoice, or if the cash has already been deposited into your bank account, your next best option would be to issue a credit memo for the invoice to be offset against future payments.

Benefits:

  • Ability to quickly back out the invoice from the AR Aging and reverse the accounting entries
  • During reverse, optionally can put the invoice back into the billing process to make adjustments and re-issue
  • Security can restrict who has access to this process

Roles:

  • Accounts Receivable Manager
  • Billing Clerk

Additional Content

Location:

  • Billing & Accounts Receivable > Credit Memos / Reversals > Reverse a System Generated Invoice

Video:

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Penta Technologies continuously strives to improve customer content, therefore, information is subject to change at any time.