Reverse transactions (Sales Ledger)

Use this to reverse invoice, credit note, receipt and payment transactions.

You can only reverse a transaction provided:

• It is not an opening balance type transaction.
• It has not been allocated.
• It does not have a query flag set against it.
• If it is a bank transaction, it has not been reconciled to your bank statement, and the bank account is in the same currency as your base currency.
• If it is an online receipt transaction, it has not been partially refunded already, and you have user permissions to refund payments.

Note: You cannot reverse a foreign currency transaction, but you can refund a foreign online receipt.

The transaction is reversed by entering an opposite transaction. For example, if you choose to reverse an invoice, a credit note is created. The Enter credit note window is displayed so you can view the postings it will make to reverse the transaction.

Reverse postings are transactions in their own right and are stored in the customer's account using the same date and references used in the original transaction. You cannot change the values because they are taken from the original transaction. You can amend the Reference to show that the transaction is reversed.

If the original transaction is no longer stored on the account, (e.g. it has been purged from the ledger), then the Default tax code and Default nominal code are taken from the customer's account. You can amend these, if required.

You cannot reverse a transaction if the customer is a balance forwardBalance forward accounting is a type of accounting where all transaction details remain on the ledger in full until the period end routine is run. During the period end procedure, all transactions (except those in query which are dealt with separately) are cleared from the file and only a brought forward balance is displayed for the new period. Each period's total creditors balance is carried forward as a single balance figure. The number of balances carried forward depends upon the number of months aged debts you specify for the Purchase Ledger. When transactions, such as receipts, are posted for a previous period's transaction, they are allocated by period number, so that the appropriate balance is reduced at the period end. The advantage of this type of accounting is its economical use of disk space. Balance forward accounting cannot be used for foreign currency accounts. account, and the transaction has been included in a bought forward balance.

• An opposite entry is created and posted to the customer's account.
• The opposite entry is allocated to the original transaction.

You must have:

• Ensured that the transaction for a bank entry, such as a receipt or payment, is not reconciled, and the bank account must be in the same currency as your base currency.
• Ensured the transaction is not marked with a query flag.