R9 - Cancelling Invoices
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
Action | Validations | System Processing |
---|---|---|
CANCEL |
|
|
Explaining Invoice Cancellation Fields
Name | Description |
---|---|
Number | The transaction number of the invoice cancellation which is automatically generated on posting the invoice cancellation |
Reference number | The 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 state | The life cycle state of the invoice cancellation |
Rejection reason | The 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 Cancelled | The invoice that is cancelled by the invoice cancellation |
Category | The 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 reason | A description of the reason that the invoice cancellation is issued |
Shared Notes | Shared 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. |
Invoice Items | A list of items which were included in the invoice which is cancelled |
Cancelling Invoices
- Navigate to  FINANCE > FINANCIAL TRANSACTIONS > MANAGE FINANCIAL TRANSACTIONS
- Search for the Financial Transactions you would like to cancel
- Click on the number/name of the record you would like to access, to go to the Data Entry page
- From the Action Menu click on ACTIONS > CANCEL to open Invoice Cancellation form
MAIN INFORMATION
- Type: Select the type of the cancellation invoice from the drop down list
- Issue Reason: Type the reason you are cancelling the invoice
ITEMS:
- Check the items that have been included in the invoice you are cancelling
LOG INFORMATION
- Shared Notes: Provide further information related to the cancellation if required
- Click on SAVE
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Visit Understanding Financial Transactions for business examples related to Cancelling Invoices
Related Areas
-
Configuring Rejection Reasons — Learn to configure Rejection Reasons
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Configuring Financial Transaction Types — Learn to configure Financial Transaction Types
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Configuring Payment Methods — Learn to configure Payment Methods
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Understanding the Allocation Principles — Discover available Allocation Principles, their behaviour and how they can be configured
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Handling Invoice Due Dates — Find out how the Invoice Due Date is calculated
-
Paying an invoice using Quick Pay — Find out how you can use Quick Pay to quickly pay off invoices
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Configuring Financial Transaction Categories — Learn to configure Financial Transaction Categories
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Managing Financial Transactions — Learn to work with Financial Transactions
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Configuring Financial Transactions Definitions — Learn to configure the Financial Transactions Business Definitions that determine the overall behaviour of Financial Transactions
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Creating and Sending Invoice Cancellation Details Printout — Learn to create and send an Invoice Cancellation Details Printout
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Creating and Sending Invoice Details Printout — Learn to create and send an Invoice Details Printout
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Creating and Sending Credit Note Details Printout — Learn to create and send a Credit Note Details Printout
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Understanding Financial Transactions — Understand the usage of Financial Transactions within CRM.COM
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R9 - Cancelling Invoices — Find out about Invoice Cancellation used when you want to cancel a posted invoice
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