To reverse an applied vendor debit

If you haven’t already read the Vendor Debits Overview, see Finding, removing and reversing vendor debits for more information.

Use this procedure only if your transactions are unchangeable. See What are changeable and unchangeable transactions? for more information.

The vendor debit you want to reverse should be displayed. If you need help doing this, see To find a vendor debit before it’s settled or To find a vendor debit after it’s applied.

  1. Choose Reverse Debit from the Edit menu. After a few moments, a new transaction, with an amount exactly opposite of the vendor debit’s amount, will be displayed in the Settle Returns & Debits window.

  2. If you want, you can make a few changes to the new transaction (such as the date and the memo), but you can’t change the amounts that are associated with it.

    If you’re reversing a vendor debit from a previous accounting period, consider assigning a date from that period to the new transaction. This will ensure that your reports for that accounting period reflect the proper amounts.

  1. Click Record.

    The applied vendor debit is reversed, and the balance of the purchase to which you originally applied the vendor debit is returned to its previous amount.

  1. Keep in mind that an outstanding vendor debit exists again for this vendor. To settle the vendor debit, you can either apply the amount of the vendor debit to the your outstanding purchase balance with the vendor or indicate that you’ve received a refund check from the vendor for the amount of the vendor debit.

To reverse an applied vendor debit