Reversing Accounts Receivable

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Moderators: Moderators, Tech Support

Post Reply
BethAn
Posts: 58
Joined: Tue Oct 12, 2004 12:10 pm
Location: Parkway Presbyterian

Reversing Accounts Receivable

Post by BethAn »

I made a mistake on posting a paid invoice and now I don't know how to reverse it so that I can correct it.
Thanks, Beth
"God does not reveal the divine will to the curious, but to the obedient."
"What Christ has been and done for me, I must be and do for others."
Top
Matt
Authorized Teaching Consultant
Authorized Teaching Consultant
Posts: 733
Joined: Fri Dec 05, 2003 4:04 pm
Location: Jacksonville, AL

Post by Matt »

What you can do is create a new invoice in Accounts Receivable for the amount you need to reverse. Except when you put the dollar amount in, put it in with a negative sign. Then, post the payment against the invoice with a negative sign.
Top
Post Reply

Return to “Accounting”