Q. Can an AR Applied Credit be Reversed
From Adjutant Wiki
Q. How can an end user reverse out an applied AR credit?
Once payment is made to an invoice the transaction is permanently saved. This means a user will create a new transaction to reverse out the existing one, rather than "undoing" what has already been saved.
Below are the steps of reversing an invoice that has already had a credit applied.
1) Apply Cash Receipts screen (Transaction>> Accounts Receivable>> Apply Cash Receipts)
2) Filled out the filters as you would for a normal cash receipt while leaving 'Amount' as zero
3) Select the 'Include Paid' check box to show the all invoice records (paid & open) in the top grid
4) Select the invoice with credit applied and select the credit line that needs to be reversed
5) In the bottom Grid reset the ending balance with the 'Paid Amount' column by entering the invoice line as a negative number, while the credit is entered as a positive.
The reversing entry Must net to Zero before saving