| | How to reverse a prepayment applied to a invoice in Accounts Receivable |
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- Open Accounts Receivable, Main, Cash Receipts Entry.
- If the A/R Cash Receipts Entry Batch window displays, perform one of the following:
- Enter a new batch number.
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- Select an existing batch number.
- Click the Next Batch button.
- Add a Comment and Accept.
- In the Cash Receipt Deposit window, enter or click the Next Deposit No. button. Note: The next deposit number is stored on the Entry tab in Accounts Receivable Options.
- Enter a description.
- Select a bank code.
- Enter the deposit date (this date should be the same date as the ORIGINAL Cash Receipt that you are reversing.).
- Enter the cash deposit amount as a Zero. Accept.
- Select the Customer,
- For Check number type in APPL01 (or APPL02 etc)
- Leave the amount to be as a Zero.
- Select the Lines tab.
- In the First line, select the Prepayment from the Invoice look up,
- In amount posted column, type in a positive number (this the worth of the prepayment.)
- Notice the Balance column will be the same amount but a negative and it should be the same as the prepayments original value
- In the Second line, select the Invoice that the prepayment was applied to and in the amount posted column type in the same number form line one as a negative number.
- In the Balance Column the value should be the worth of the invoice before the prepayment was applied.
- Click Accept to save the entry.
- Print and update the Cash Receipts Journal.
DocLink: How to use Cash Receipts Entry to apply credit memos and prepayments to invoices
DocLink: How do I reverse a prepayment in Accounts Receivable?
DocLink: How do we stop Prepayments from automatically applying to Accounts Receivable Invoices.
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