You can use the Closed transaction editing in several currenciesform to reverse settlements for customers or vendors. You might do this if the wrong date or settlement amount was used. When you reverse a settlement, all transaction distributions involved in the process of settling an invoice with a payment are reversed, such as general ledger posting, exchange rate gains or losses, penny differences, and cash discount transactions.

Note
The original invoice and payment transactions are not reversed automatically when you reverse settlements. For information about how to reverse or settle those transactions, see Reverse a transactionor Use open transaction editing to settle transactions with payments.

1. Click Accounts receivable> Common Forms> Customer Details

   –or–

   Click Accounts payable> Common Forms> Vendor Details .

2. Select a customer or vendor whose closed transactions you are reversing.

3. Click Functions> Closed transaction editing.

4. Select the line that contains the settlement to reverse.

5. Select the Markcheck box for an invoice or payment. The transaction that offsets the transaction that you have marked is selected automatically.

   Note
   To preview the transactions that will be reversed, select a line and click Inquiry> Voucher.

6. Select how to determine the settlement reversal posting date to use:

   • Latest date– Use the date of the most recent original settlement.

   • Today's date– Use today's date.

   • Selected date– Use the date that you specify. The date must be the same as, or later than, the date of the most recent transaction involved in the settlement.

7. Click Reverse.