How to “cancel” an Item Receipt

An item was received in a previous accounting period. I need to undo this receipt. How do I either delete the IR or cancel it?

Rookie Asked on June 17, 2021 in Items.
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1 Answer(s)

You can’t (and would not want to) delete it if the accounting period is closed.  This is largely a question for how your accounting department wants to  handle, but you can adjust the inventory out with inventory adjustment, and balance it against whatever account your receipt hit.

You could also do a VRA to “send” it back, but since you really never received it, its more transaction intensive than probably necessary.

Intermediate Answered on June 17, 2021.
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