Purchase Invoices may be voided regardless of whether the bill created by the Purchase Invoice is paid or unpaid. Voiding a Purchase Invoice creates an exact opposite of the original Purchase Invoice, therefore affecting the general ledger and possibly affecting the inventory balances for the products. If a Purchase Invoice was created from a Purchase Receipt, voiding that Purchase Invoice does not directly affect inventory but will re-open the Purchase Receipt. Voiding a Purchase Invoice that was entered using the Direct tab affects the inventory balances for the products. Prices using a formula based on Last Cost are not impacted.
Transactions should not be entered in a prior year dataset. An accrual journal entry for a correction could be made in the prior year. To fix the current year, add a negative Purchase Invoice for the same quantities and costs as the original. Then pay the original bill and the credit with a memo check and re-enter the Purchase Invoice correctly.
Process for Voiding a Purchase Invoice
Voiding a Purchase Invoice credits the entire Purchase Invoice, updates inventory Amount On Hand appropriately, creates an unpaid Bill, updates costs, and affects the General Ledger.
Note: If a Purchase Invoice was created from a Purchase Receipt, voiding the Purchase Invoice does not directly affect inventory, but will re-open the Purchase Receipt. Voiding a Purchase Invoice with products selected on the Direct tab affects the inventory balances for those products.
- Navigate to Accounting / Inventory / Purchase Invoicing.
- At the Select a Purchase Invoice window, select the Vendor on the left and highlight the Invoice# on the right. Choose Void.
- Verify the information on the Void Purchase Invoice window and choose Void.
Note: Information may not be edited on the Void Purchase Invoice window.
Note: A voided Purchase Invoice is displayed in red at the Select a Purchase Invoice window.
Note: A Purchase Invoice may be voided at any time whether or not in the same fiscal month it was entered.
