Reverse or correct a posted purchase invoice
You can correct or cancel a posted purchase invoice. This is useful if you want to correct a typing mistake, or if you want to change the purchase early in the order process.
Correct or cancel a posted purchase invoice
On the Posted Purchase Invoice page, you can choose the Correct action and run the following functions:
Correct - creates and post a credit memo to reverse a posted purchase invoice and create a new purchase invoice with the same information, that you can correct before posting.
Cancel - Creates and post a credit memo to reverse a posted purchase invoice.
Create Corrective Credit Memo - Creates a credit memo with the same information, that you can correct before posting.
When you correct or cancel a posted purchase invoice, the corrective purchase credit memo is applied to all general ledger and inventory ledger entries that were created when the initial purchase invoice was posted. This reverses the posted purchase invoice in your financial records and leaves the corrective posted purchase credit memo for your audit trail.
To correct a posted purchase invoice, follow these steps:
Select the Search for page icon in the top-right corner of the page, enter posted purchase invoices, and select the related link.
Select the posted purchase invoice you want to correct and choose Correct and then Correct again. A purchase credit memo is automatically created and posted to void the initial posted purchase invoice. At the same time, a new purchase invoice with the same information is created where you can make the correction.
To cancel a posted purchase invoice, follow these steps:
Select the Search for page icon in the top-right corner of the page, enter posted purchase invoices, and select the related link.
Select the posted purchase invoice you want to correct and select Correct and then Cancel. A purchase credit memo is automatically created and posted to void the initial posted purchase invoice. The Canceled field on the initial posted purchase invoice is changed to Yes.
To create a corrective credit memo for a posted purchase invoice, follow these steps:
Select the Search for page icon in the top-right corner of the page, enter posted purchase invoices, and select the related link.
Select the posted purchase invoice you want to correct and choose Correct and then Create Corrective Credit Memo. A new credit memo with the same information is created where you can make the correction.