Saturday, 11 June 2016

How To Correct Free Text Invoice

Easily correct any free text invoice which was posted with the wrong amount.

After going through the correction process, the system cancels the incorrect one 

and posts a new one linked with the old one to meet the audit requirements.


Process

Let us start with an example where you posted a free text invoice amount for USD $2,500 to Customer 1301-Whale Wholesales – but the amount should really be USD $3,000. You realize your mistake, and you want to quickly correct the free text invoice.
Posted free text Invoice with the wrong amount
Fig 2: Posted free text Invoice with the wrong amount.
The process for correcting a free text invoice involves the following steps:
  1. The user clicks Correct on the Free text invoice form.
    To correct a free text invoice, first click Correct Invoice
    Fig 3: To correct a free text invoice, first click Correct Invoice.
  2. Select the error code as “ERROR”, enter the invoice cancelling date and then click Create Corrected Invoice.
    Enter a reason code and a cancelling Invoice date to create  a corrected free text invoice
    Fig 4: Enter a reason code and a cancelling Invoice date to create a corrected free text invoice.
  3. The system then creates a copy of the original free text invoice.
    Created copy of the free text invoice after entering a reason code and a cancelling invoice date
    Fig 5: Created copy of the free text invoice after entering a reason code and a cancelling invoice date.
  4. Make the desired changes to the copied free text invoice.
    Make changes in the free text invoice copy
    Fig 6: Make changes in the free text invoice copy.
  5. Post the changed free text invoice.
    Post the changed free text invoice
    Fig 7: Post the changed free text invoice
  6. The system creates a credit note and all the original settlements are reversed and reapplied to the new credit note. An Infolog appears to show the successful completion of the process.
    Infolog showing the successful completion of the process
    Fig 8: Infolog showing the successful completion of the process
  7. The system creates a link between the Corrected, Credited (Canceling), and Original customer invoice for a clear audit trail.
    The previous free text invoice, credit note, and the corrected invoice are created during the process
    Fig 9: The previous free text invoice, credit note, and the corrected invoice are created during the process.
    Invoice corrections created during the process
    Fig 10: Invoice corrections created during the process.
    The original free text invoice that was corrected
    Fig 11: The original free text invoice that was corrected.
    The credit note automatically created during the correction process
    Fig 12: The credit note automatically created during the correction process.
    The new free text invoice created during the correction process
    Fig 13: The new free text invoice created during the correction process.