Reversal Entries

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There are times when an invoice needs to be reversed (unprinted) regardless of whether it has been paid or not. Jim2 handles this action by entering a reversal entry for the invoice, a reversal entry for any discounts applied, and the payment becomes a credit amount, which can then be applied to another invoice.

 

Info

The payment entry is not reversed by default, it becomes a credit on that debtor's record. However, the option is available to have the payment reversed at the point of unprinting the invoice, by ticking the Reverse payments box.

 

unprintandreverse

 

If reversing the payment is not ticked, the bank account and debtors balances in respect of that payment entry have not changed. Only Jim2 has changed in relation to that payment's entry, to make it show as a credit – not an applied payment.

 

Info

Reversal entries are created from invoices that are unprinted.

 

Further information

Debtors Adjustments

Debtors Allocate Payments Grid

Debtors Auto Credit Hold

Debtor Form

Debtors List

Debtors Documents Tab

Debtors Notes Tab

Debtors Opening Balances

Debtors Payments Tab

Debtors Statement Printing

Debtor Management

Debtors Reports

Apply a Credit/Prepayment

Clear a Credit on a Debtor

Clear Small Debtor Balances

Create a Debtor Refund

Enter a Credit

Enter a Credit Payment

Enter a Payment

Enter a Prepayment

Enter Discounts and Account Fees

Issue a Credit Note

Debtor Payments Including Commission

Move Unknown Payments to Debtor

Reverse Discounts and Account Fees

Reverse or Delete a Payment

Send Payment Receipts

Unallocate a Payment

Undo Incorrect Refund