Reversing a Bill of Exchange Payable
You have cleared open items with the bill of exchange payment. If you want to reverse the bill of exchange payment, you must reverse the posting. The system posts a new payable to the vendor.
In the above case, the following postings have already been made:
The following postings are now necessary:
To reverse the bill of exchange payment, you must make the following steps in the system:
The system now displays the Post with Clearing: Header data screen.
The Post with Clearing: Create vendor Item screen is now displayed for entering the new payable.
This amount is posted to the vendor account as a new payable. The system enters the document date as the baseline date for payment, since the payable is generally due net immediately.
The system now displays the selection screen for open items.
The screen that is now displayed is for selecting open items.
The system clears the bill payable and posts a new payable to the vendor account. The special G/L account for bills of exchange payable is also cleared.