You can use the form 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 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 > Common Forms>


    Click > Common Forms> .

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

  3. Click > .

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

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

    Note Note

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

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

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

    • – Use today's 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 .

See Also