Overview

This example will demonstrate reversing a transaction that has appeared on an invoice and creating a credit to the account in the amount of the original transaction. The credit will then be applied to an open invoice.

Select Quick Scan or Maintain | Transactions. Use the criteria window to find the transaction to be reversed. Click the  Edit Selected button to view the transaction details. The detail transaction window will look similar to the following.

Click the  Reverse Transaction button. A flyout window similar to the following will appear.

Click the  Save button. The reverse transaction and the credit are created. A message appears with the newly created reverse ticket number.

The following is an example of what the Tonnage and Charge report will look like based on the reverse selections.

The report shows the original ticket, Office -2006, and the reversed ticket, Office - 2007. 

The credit can be found by selecting Accounting | Credit Memos. Select the account, Davis Construction for our example. Click the Credits tab.

A credit in the same amount as the charge is listed. To apply the credit to an open invoice, click the Apply Payments and Credits tab.

Place a check next to the box of the credit then check the box next to the invoice the credit is to be applied to. 

Click the  Apply selected payments button to complete the process.

In this example the credit did not pay off the entire invoice. To apply a customer payment to the remaining invoice select Accounting | Receive Payments. Select the account, Davis Construction for our example.

Select the Apply Payments and Credits tab. A window similar to the following will appear.

Click the Create payment from invoice tab. Select the date the payment was received and the invoice to be paid from the list of Charges. If desired, enter a check number in the Reference field. 

Click the   Pay selected invoices button to complete the process.

To view account activity select the Activity tab.

In this example Credit Office -1 represents the process of reversing the transaction and the invoice the reverse transaction appeared on.

Credit Office -2 represents the credit applied to the open invoice, Invoice 2005.

Receipt Office-3 represents the customer payment received and applied to the remaining amount of invoice 2005.