We’re here to help you add some more tools to your tool belt with today’s handy How To: Reverse a Receiving Voucher.
REVERSING A RECEIVING VOUCHER:
If an error is discovered on a saved voucher, other than in the editable fields, it is necessary to reverse the voucher and then create a new, corrected one to update your receiving history and inventory.
To reverse a voucher:
- Locate and highlight/display the voucher to be reversed in your receiving history.
- Select [REVERSE] from the I Want To… menu.
- If you are integrated with QuickBooks, a notice about the vendor credit that will be created is displayed. Read and confirm this message.
- If needed, create a new corrected voucher.
- Reversing a receiving voucher takes the received quantity of each listed item back out of inventory and, if applicable, adjusts the average unit cost of the remaining on-hand quantity. It does this by automatically creating a new return voucher with an equal but opposite effect (lists negative quantities instead of positive).
- When completed, the Status of the original voucher will be Reversed and the status of the new return voucher that is created will be marked Reversing.
- If the original voucher referenced a purchase order (PO), reversing it will also revert the PO fill status and balances, providing the PO has not been deleted.
- If an item listed on a reversed voucher has been deleted from inventory, the reversal causes the item to be added back to inventory.
- If integrated with QuickBooks financial software, and the original voucher has already been sent to QuickBooks, the reversing (return) voucher is also sent and results in a vendor credit being created. The credit is not automatically applied to open bills in your financial software. In QuickBooks, select Pay Bills from the Vendors menu and apply the credit. Refer to your QuickBooks financial software documentation if you need additional assistance. Note: If the original voucher has not yet been sent to QuickBooks, then neither the original or reversing voucher are sent and no entries are made in your financial software for the transaction.
- (Pro) Headquarters can reverse a former voucher without restrictions. Remote stores, however, can only reverse a voucher until it has been sent to Headquarters.
As always, if you have any questions, or need help with this process, feel free to give us a call at 844-4-QBOOKS. (844) 472-6657. To get all of our great how to articles and videos delivered to your inbox, make sure to subscribe to our blog (on the right-hand side of this page).