R9 - Cancelling Invoices

Owned by Persia Xenopoulou (Deactivated)
Apr 08, 2016

What does this section cover?

What is Cancelling Invoices

In CRM.COM once a Financial Transaction is created, then it can not be deleted, regardless of its Life Cycle State. In cases where the Invoice's Life Cycle State is still Draft then the Invoice can be rejected. See Rejecting Draft Financial Transactions.

In case where the Invoice has already been posted then it will need to be cancelled in order not to affect the account balance of the customer. Cancelling an invoice will create another Financial Transaction of Classification Invoice Cancellation and will allocate it against the invoice.

Validations & Restrictions

ActionValidationsSystem Processing
CANCEL
  • Life Cycle State = Posted
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied
  • Life cycle state of the invoice is set to cancelled
  • A new financial transaction of type classification "Invoice Cancellation" is created
    • Life cycle state of the Invoice Cancellation Type is set to posted 
    • Posted date is set equal to current date
    • Transaction number is set
    • Invoice cancellation is set against the cancelled invoice
  • Any payments or credit notes which are already allocated against the cancelled invoice are Deallocated

Explaining Invoice Cancellation Fields

Name

Description

NumberThe transaction number of the invoice cancellation which is automatically generated on posting the invoice cancellation
Reference numberThe reference number of the invoice cancellation which is automatically generated on creating the invoice cancellation
Accounts receivable*The related accounts receivable
Financial transaction type*The financial transaction type. Only financial transaction types classified as invoice  cancellations can be applied
Life cycle stateThe life cycle state of the invoice cancellation
Rejection reasonThe reason that the transaction was rejected, which is applicable and is mandatory only if the transaction is rejected while being in draft life cycle state
Invoice CancelledThe invoice that is cancelled by the invoice cancellation
CategoryThe category of the invoice cancellation. Only categories listed as allowed on the related financial transaction type can be applied

Issued on*

The date that the invoice cancellation was issued
Posted on*The date that the invoice cancellation was posted
Issue reasonA description of the reason that the invoice cancellation is issued
Shared NotesShared notes for the invoice cancellation
Back Office Code
AVAILABLE FROM CRM.COM R9.0.0 

A code which is used by external systems in order to refer to the specific financial transaction. 
The back office code is not mandatory but if specified then it should be unique

Invoice Items

A list of items which were included in the invoice which is cancelled

Cancelling Invoices

  1. Navigate to  FINANCE > FINANCIAL TRANSACTIONS > MANAGE FINANCIAL TRANSACTIONS
  2. Search for the Financial Transactions you would like to cancel
  3. Click on the number/name of the record you would like to access, to go to the Data Entry page
  4. From the Action Menu click on ACTIONS > CANCEL to open Invoice Cancellation form
    FINANCIAL TRANSACTIONS - INVOICE CANCELLATIONS

    1. MAIN INFORMATION

      1. Type: Select the type of the cancellation invoice from the drop down list
      2. Issue Reason: Type the reason you are cancelling the invoice

    2. ITEMS:

      1. Check the items that have been included in the invoice you are cancelling

    3. LOG INFORMATION

      1. Shared Notes: Provide further information related to the cancellation if required
    4. Click on SAVE

 

Visit Understanding Financial Transactions for business examples related to Cancelling Invoices

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