AP Void Invoice

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About

Accounts Payable
Invoicing/Checks

This program allows you to void individual invoice as well as a complete session of Invoices.

When an invoice is voided, the system will create reversal entries to reverse as of the Void Date selected

-A reversal invoice is created in AP
-A reversing G/L Transaction is created
-A reversing C/M transaction is created, both the original and the reversing entries are reconciled, and a zero dollar entry is left open in Cash management.

Using the Program

Consideration should be given to the Void Date before processing a Void Invoice. The general rule is to not create postings into closed accounting periods. There are 2 cases for choosing a Void Date:

  1. The invoice date of the invoice to be voided is in an open accounting period (current month). In this case the Void Date should be the date of the invoice that is being voided.
  2. The invoice to be voided is in a closed accounting period (prior month). The void date should be in the current month. Either use the first date in the current month or today's date for the Void Date.


Tips and Tricks

System Options

Void Invoice creates transactions based on the Void Date regardless of the system setting of Post Voucher Trx by Invoice Date"