Minimum Version Required: 25.01
Pre-Conditions
Purchase must be TransType = Inventory or Accounts
PurchaseAdd permission is required to create a new Purchase
PurchaseEdit permission is required to Receive a Purchase
PurchaseConfirm permission is required to Confirm a Purchase
Steps
1. Navigate to the "Purchases" table using the universal search bar
2. Click "Add Purchases"
3. Click "Correct a Previous Purchase"
4. Enter the PurchaseID or PO Num of the Purchase you want to reverse
5. Click "Search"
6. Confirm the desired purchase results and click "Reverse and Recreate Purchase"
Note that only the correction Purchase will be editable.
7. Click the Edit hyperlink to open Purchase Edit
8. Update the necessary values in Purchase Edit
Editable values include quantity, proof (where applicable), code date, batch code, and costing.
9. Click "Receive Shipment" to receive the correction Purchase into inventory.
10. Click "Confirm Bill"
11. Enter in the Purchase Total in the 'Actual' field, update other relevant information
12. Click 'Confirm Bill'
13. Once the bill is confirmed, the financial impact will be visible on financial statements and the reversal and correction will be eligible for verification with Accounts Payable Close.
Best Practices
This workflow is designed for Verified Purchases. Purchases in a less-than-Verified status should be edited & updated manually. This may require UnConfirming.
If only a reversal is required, see How to reverse a Purchase.
Purchases with TransType = Payment should be reversed or corrected via the CheckRuns table (see: How to reverse a Check Run & How to correct a Check Run).
Purchases with TransType = Asset do not need to be reversed, the Asset record can be removed using the Dispose button on the Asset table.