How To Correct Transactions Entered for the Wrong Vendor or Customer in Project Accounting

TechKnowledge Content
Issue

How to void transactions entered for the wrong Vendor or Customer in Project Accounting?

Resolution

Transactions should be voided in the originating module. In that manner, all modules affected can be properly updated. Unfortunately Project Accounting does not have a void. However, you can enter credit transactions to reverse out the incorrect transaction.

For an incorrect Payables transaction - Employee Expense originating in Project Accounting:

1. Go to transactions | Project | Employee Expense.

2. Enter a transaction with a negative Quantity to offset the original incorrect Invoice.

a. If the original Employee Expense has not yet been billed, enter this Employee Expense transaction as a referenced transaction, and reference the original transaction. Doing so will result in the net value of the transactions showing up as one billing line item in the billing entry window.

b. If the original Employee Expense has been billed or you want the line items to show up independently, enter this Employee Expense as a standard transaction.

3. Step 2 created a Credit Memo for the Employee/Vendor. So, now you need to apply the Credit Memo to the Invoice. Go to Transactions | Purchasing | Apply to.

Note - The billing type on the transaction will be determined by your billing needs.

For an incorrect Payables transaction - Purchasing Invoice originating in Project Accounting:

1. Go to Transactions | Project | Inventory Transfer.

2. Change the document type to Return to Vendor and enter the transaction.

3. Again, step 2 created a Credit Memo for the Vendor. So, go to Transactions | Purchasing | Apply to and apply the documents together.

Note - The billing type on the transaction will be determined by your billing needs.

For an incorrect Receivables transaction - Fixed Price Project or Fee Billing originating in Project Accounting:

1. Go to Transactions | Project | Billing | Billing Entry.

2. Enter an Invoice with negative dollar amounts for the cost category(ies) or fee(s).

3. Go to Transactions | Sales | Apply, and apply the Credit Memo generated in step 2 to the original Invoice.

For an incorrect Receivables transaction - Time and Materials project originating in Project Accounting:

1. Go to Transactions | Project | Billing | Billing Entry.

2. Change the Document Type to TM Return.

3. Select the Billing Invoice you wish to reference.

4. Select the Project and line items that you wish to credit.

5. Post the transaction.

6. Go to Transactions | Sales | Apply, and apply the Credit Memo generated in step 5 to the original Invoice.

This article was TechKnowledge Document ID: 26984
Properties

Article ID: 857047 - Last Review: 04/05/2016 16:42:00 - Revision: 5.0

Microsoft Dynamics GP 2010, Microsoft Dynamics GP 10.0

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