Purchases Reversal

Okay, we’re going to do the reversal of wrongly posted purchase, which is this. We just posted 1000. We’re going to reverse this now.

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We just checked the posted document first, the document number. You need to get the document number. Now, click this, own documents, fiscal year 2009. This one. 1000, right?

 

 

This is the one, right? We’re going to reverse this. Just copy the document number.

 

 

Wait, come here. Accounting, financial accounting, accounts payable, document, reverse, individual reversal. Paste the document number. Reversal reason, enter, 01. You can display before reversal. Make sure that it’s a document. Amount. Check everything. You can check to make sure that’s a document you want to reverse. Press this to save it.

 

 

Once you save, in the normal case, you won’t get this pop up window. I’m not sure why it is showing here. There is a configuration in the IDAS company code which is throwing this pop up window, but don’t worry about this, just press cancel.

 

 

The document is posted now. Let us check the postings of the document. It is a reversal document. See, the vendor is debited and the cost of sales is credited. The reverse way.

 

 

In the purchase invoice, the vendor will be credited and the cost of sales will be debited, right? Here, it’s totally reversed.

 

 

Let us check the balance. Accounts payable, account. This is the second vendor, right? Yeah, this is the second vendor. All items. See this? Reversed, and the balance becomes zero, and it is marked as cleared in green color.

 

 

Okay, we are done with reversal. We go to next topic.

You may watch the full course on the following YouTube link

https://www.youtube.com/watch?v=Wx6tTaiyk1Y&list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQ&index=19&pp=iAQB