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.
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.
Fig 2: Posted free text Invoice with the wrong amount.
The process for correcting a free text invoice involves the following steps:
- The user clicks Correct on the Free text invoice form.Fig 3: To correct a free text invoice, first click Correct Invoice.
- Select the error code as “ERROR”, enter the invoice cancelling date and then click Create Corrected Invoice.Fig 4: Enter a reason code and a cancelling Invoice date to create a corrected free text invoice.
- The system then creates a copy of the original free text invoice.Fig 5: Created copy of the free text invoice after entering a reason code and a cancelling invoice date.
- Make the desired changes to the copied free text invoice.Fig 6: Make changes in the free text invoice copy.
- Post the changed free text invoice.Fig 7: Post the changed free text invoice
- 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.Fig 8: Infolog showing the successful completion of the process
- The system creates a link between the Corrected, Credited (Canceling), and Original customer invoice for a clear audit trail.Fig 9: The previous free text invoice, credit note, and the corrected invoice are created during the process.Fig 10: Invoice corrections created during the process.Fig 11: The original free text invoice that was corrected.Fig 12: The credit note automatically created during the correction process.Fig 13: The new free text invoice created during the correction process.