Voiding / Reversing Vendor Disbursements

There are 4 separate scenarios of voiding/reversing vendor disbursements.

• When the bill is correct and exists in the current Agvance data
• When the bill is correct and does not exist in current Agvance data
• When the bill needs to be changed, the user wants to change it only in the current year, and it exists in the current year
• When the bill needs to be changed, the user wants to change it only in the current year, and it does not exist in the current year

The following are the steps to correct each instance:

1. When the bill is correct and exists in the current Agvance data:
   • Void the disbursement from the vendor Activity tab.
   • Create a vendor-type JE debiting the account credited in the original payment (probably checking) and crediting A/P.
   • The bill may now be re-paid.
2. When the bill is correct and does not exist in current Agvance data:
   • Void the disbursement from the vendor Activity tab.
   • Create a regular-type JE debiting the account credited in the original payment (probably checking) and crediting the account(s) debited in the original bill (probably expense, COGS, or inventory accounts).
   • Add the A/P bill to the same accounts (probably expense, COGS, or inventory accounts) that were used on the original A/P bill, as it was entered originally, and as credited in the JE in item 2 above.
3. When the bill needs to be changed, the user wants to change it only in the current year, and it exists in the current year:
   • Void the disbursement from the vendor Activity tab.
   • Create a vendor-type JE debiting the account credited in the original payment (probably checking) and crediting A/P.
   • Void the A/P bill.
   • Re-enter the corrected A/P bill.
   • The differences in expense (COGS, inventory) amounts from the corrected A/P bill will be contained in the current year, not the prior year.
4. When the bill needs to be changed, the user wants to change it only in the current year, and it does not exist in the current year:
   • Void the disbursement from the vendor Activity tab.
   • Create a regular-type JE debiting the account credited in the original payment (probably checking) and crediting the account(s) debited in the original bill (probably expense, COGS, or inventory accounts).
   • Re-enter the corrected A/P bill
   • The differences in expense (COGS, inventory) amounts from the corrected A/P bill will be contained in the current year, not the prior year.