To reverse a bill

If you haven't already read the Purchases Overview, see Changing, removing and reversing purchases for more information.

Use this procedure only if your transactions are unchangeable. See What are changeable and unchangeable transactions? for more information.

The bill you want to reverse should be displayed. If you need help doing this, see To find a purchase.

  1. Choose Reverse Purchase from the Edit menu. After a few moments, a vendor debit will be displayed in the Purchases window.

    If you want, you can make a few changes to the vendor debit (such as the date and the memo), but you can't change the accounts, amounts and quantities that are associated with the vendor debit.

    If you're reversing a purchase from a previous accounting period, consider assigning a date from that period to the vendor debit. This will allow your reports for that accounting period to reflect the proper amounts.

  1. Click Record Reversal to record the vendor debit.

  2. You have two choices to settle the vendor debit:

    • Apply the amount of the vendor debit to your outstanding purchase balance with the vendor. To learn how to apply vendor debits to outstanding purchase balances, see To apply a vendor debit for more information. If you want to print vendor debits on the check stub, see Displaying applied debit memos on check stubs.

    • Indicate that you received a refund from the vendor for the amount of the vendor debit. To learn how to record a refund received from a vendor, see To receive a refund for more information.

To reverse a bill