Reverse an invoice

Reversing an invoice allows you to track your changes and maintain an audit trail. Intacct retains the original invoice transaction and creates a new transaction that zeros out the invoice. You can reverse invoices with the following states:

• Posted, if the reversal of unpaid invoices is not enabled.

  To reverse posted invoices instead of deleting them, enable invoice reversal in your AR configuration, which replaces the Delete checkbox with a Reverse link. This option helps you track your changes and maintain an audit trail for your invoices.

• Partially paid
• Paid
• No value

The steps to reverse an invoice depend on whether the invoice is unpaid or paid.

Reverse an unpaid invoice

An invoice with a state of Posted or No value is unpaid. It does not have an associated payment.

1. Go to Accounts Receivable > All > Invoices.
2. Find the invoice that you want to reverse.
   Use the fields at the top of the invoices list to filter for the vendor, date, or other information.
3. Select More actions > Reverse at the end of the row.
   If you do not see the Reverse link

   To reverse an invoice, the following must be true:

   • Your company is enabled for reversal of unpaid invoices.
   • You have Accounts Receivable permissions to reverse invoices.
   • The invoice is in a Posted state.
4. Review the reversal date and memo, making any changes you need.
• Reverse the transaction on date: Select the date for reversing the transaction. This date is usually the original transaction date or a later date.
• Memo: It’s recommended that you enter the reason for the reversal.
5. Select Submit.

1. Go to Accounts Receivable > All > Invoices.
2. Find the invoice that you want to reverse.
   Use the fields at the top of the invoices list to filter for the vendor, date, or other information.
3. Select the Reverse link to the right of the invoice.
   If you do not see the Reverse link

   To reverse an invoice, the following must be true:

   • Your company is enabled for reversal of unpaid invoices.
   • You have Accounts Receivable permissions to reverse invoices.
   • The invoice is in a Posted state.
4. Review the reversal date and memo, making any changes you need.
• Reverse the transaction on date: Select the date for reversing the transaction. This date is usually the original transaction date or a later date.
• Memo: It’s recommended that you enter the reason for the reversal.
5. Select Submit.

Reverse a paid invoice

An invoice with a state of Partially paid or Paid has an associated payment. To reverse a paid invoice, you first reverse the payment, then reverse the invoice.

Reverse a payment on an invoice

1. Go to Accounts Receivable > All > Payments > Posted payments.
2. In the list of Posted Payments, select Reverse beside the appropriate row.

   The Transaction Reversal Date window appears.

3. Review the reversal date and memo, making any changes you need.
   • Reverse the transaction on date: Select the date for reversing the transaction. This date is usually the original transaction date or a later date.
   • Memo: It’s recommended that you enter the reason for the reversal.
4. Select Submit.

Intacct retains the original payment transaction, and creates a new transaction that essentially zeros out the payment, which provides an audit trail. Now the invoice has no payment associated with it. You can simply reverse it.

Reverse the associated paid invoice

1. Go to Accounts Receivable > All > Invoices.
2. Find the invoice that you want to reverse.
3. Select More actions > Reverse at the end of the row.

   The Transaction Reversal Date window appears.

• Memo: Enter the reason for the reversal.
• Reversal date: Select the date for reversing the transaction. This date is usually the original transaction date or a later date.
4. Review the reversal date and memo, making any changes you need.
5. Select Submit.

1. Go to Accounts Receivable > All > Invoices.
2. Select the Reverse link to the right of the invoice you want to reverse.

   The Transaction Reversal Date window appears.

   • Memo: It’s recommended that you enter the reason for the reversal.
   • Reversal date: Select the date for reversing the transaction. This date is usually the original transaction date or a later date.
3. Review the reversal date and memo, making any changes you need.
4. Select Submit.