To reverse a purchase
If you haven't already read the Purchases Overview, see Changing, removing and reversing purchases for more information.
Use this procedure only if your transactions are unchangeable. See What are changeable and unchangeable transactions? for more information.
The purchase you want to reverse should be displayed. If you need help doing this, see To find a purchase.
- Choose Reverse Purchase from the Edit menu. After a few moments, a supplier debit will be displayed in the Purchases window.
If you want, you can make a few changes to the supplier debit (such as the date and the memo), but you can't change the accounts, amounts and quantities that are associated with the supplier debit.
If you're reversing a purchase from a previous accounting period, consider assigning a date from that period to the supplier debit. This will allow your reports for that accounting period to reflect the proper amounts.
- Click Record Reversal to record the supplier debit.
- You have two choices to settle the supplier debit:
- Indicate that you received a refund from the supplier for the amount of the supplier debit. To learn how to record a refund received from a supplier, see To receive a refund for more information.