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.
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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.
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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.
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Reversal entries are created from invoices that are unprinted. |
Further information
Debtors Allocate Payments Grid
Enter Discounts and Account Fees
Debtor Payments Including Commission
Move Unknown Payments to Debtor