Reversing Purchase Order Prepayment

  • Reversing Purchase Order Prepayment

    Posted by Shari Bruno on September 5, 2023 at 12:29 pm

    Greetings! We have a purchase order prepayment for an inventory purchase that has been reconciled in the bank for a previous month, the bank rec for that month is posted. Nothing has been received against the PO and the vendor is now providing a different item than what is on the purchase order. Is there a way to correct this? Thanks!

    Tracy Hanson replied 3 weeks, 1 day ago 2 Members · 1 Reply
  • 1 Reply
  • Tracy Hanson

    September 5, 2023 at 1:27 pm

    Yes, you can reverse the prepayment by posting a prepayment credit memo from the PO (this function is listed in the actions>posting menu. once that is posted, you can reopen the PO, make changes, and reissue a prepayment invoice if needed.

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