Enhanced interface

Reverse a customer advance

You can reverse advances from the Advances list. After an advance is applied to an AR sales invoice, it can't be reversed.

After you reverse a transaction, you cannot undo the reversal. However, you can create another transaction to replace the original.

Subscription	Accounts Receivable
Regional availability	All regions
User type	Business
Permissions	Receive Advances: List, View, Reverse

Go to Accounts Receivable > All > Payments > Advances.
Find the advance that you want to reverse.
Select More actions > Reverse at the end of the row.
The Transaction Reversal Date pop-up appears.
In the Transaction Reversal Date pop-up, enter the following:
- In Reverse the transaction on date, select the date for reversing the advance.
  This date can be the payment group date or a later date. You can even include a date from a prior closed period, so that your financial statements are correct.
- For the Memo, add a description that applies to this line item of the cheque.
  This text is for your information only.
Select Submit.
The Advances list appears, and you can see two line items for this transaction. (The transaction is not zeroed out so there's an audit trail.)

One line item is the original transaction, where the Reverse link now is labeled Reversed.
The other line item added by Intacct is the reverse transaction, which produces a net effect of zero. This transaction is labeled Reversal.
For example, you have an advance for $10. After reversing, you still have the original $10 advance, but also a transaction for -$10, resulting in a net of zero.

Go to Accounts Receivable > All > Payments > Advances.
At the end of the appropriate row, select Reverse.
The Transaction Reversal Date pop-up appears.
In the Transaction Reversal Date pop-up, enter the following:
- In Reverse the transaction on date, select the date for reversing the advance.
  This date can be the payment group date or a later date. You can even include a date from a prior closed period, so that your financial statements are correct.
- For the Memo, add a description that applies to this line item of the cheque.
  This text is for your information only.
Select Submit.
The Advances list appears, and you can see two line items for this transaction. (The transaction is not zeroed out so there's an audit trail.)

One line item is the original transaction, where the Reverse link now is labeled Reversed.
The other line item added by Intacct is the reverse transaction, which produces a net effect of zero. This transaction is labeled Reversal.
For example, you have an advance for $10. After reversing, you still have the original $10 advance, but also a transaction for -$10, resulting in a net of zero.

Next step: If you reversed the advance to correct it, receive a new advance with the corrected information.