Corrective Credit Memo can be used to reverse the posted documents. E.g. Posted Purchase Invoice / Posted Sales Invocie
Follow below steps to create the Corrective Credit Memo:
Using example of Purchase Invoice that has been posted:
1, Go to the related Purchase Invoice that you would like to reverse (wrongly psoted / you would like to re-post with adjustment)
2, The Credit Memo will copy the information according to the Posted Purchase Invoice, below the example, including:
(1) The Purchase Invoice No. and Receipt No.
(2) The Qty of item purhcased
(3) The unit cost of item purhcased
Click "Released" and then "Post" if the whole posted Purchase Invoice will be reversed.
3, The Credit Memo will be posted and all the entries of the Posted Purchase Invoice will be reversed including the receipt.
The original Posted Invoice will be closed.
*If user would like to re-post the purchase invoice with the correct information, they need to create the purchase order and post and receipt & invoice again.