How do I reverse an invoice that was posted incorrectly?
Article ID
how-do-i-reverse-an-invoice-that-was-posted-incorrectly
Article Name
How do I reverse an invoice that was posted incorrectly?
Created Date
22nd October 2019
Product
Problem
How do I reverse an Invoice that was posted incorrectly? For example, I have entered in incorrect date, Client Details, Value, Reference, Narrative or Fees Period.
Resolution
Once an invoice has been posted, it can not be changed. It is possible to reverse the invoice and repost it again with the correct details. To reverse an invoice, you would need to:
-Log on to IRIS Fees from IRIS Main Menu.
-Click on Enquiries | Account Details
-Select the Client on which the invoice was Posted to.
-Highlight the Invoice that needs to be reversed and click on View.
-A Screen called Fees Ledger Posting: Invoice, will display the invoice contents.
-Click on Reverse, a confirmation screen will be displayed
-Select a Fees Period that you would like to enter a Contra Posting.
-Enter the same date for Contra Posting as the Invoice Date.
-Under Time, place a tick on “Reverse original WIP adjustment”
-Select a Time period you would like to reverse WIP into.
-Click on OK which will then display a confirmation screen.
-There are 2 reasons as to why an invoice may not be reversed in Fees Ledger, which are:
1) It may already be reversed
2) It is matched to a Fees Posting (Receipt)
Invoice already reversed
An invoice that has already been reversed cannot be reversed again. To check if an invoice has already been reversed:
-Log on to IRIS Fees from IRIS Main Menu.
-Click on Enquiries | Account Details
-Select the Client on which the invoice was Posted to.
-If the invoice can been seen then, Highlight the Invoice click on View. If the posting is not appearing, tick on Include Cancelled and Contras. Then high light the invoice and view it
-This should then display the screen Fees Ledger postings: Invoice (Cancelled)
The invoice is matched to another fees posting
If an invoice has been matched to a receipt, then the invoice cannot be reversed unless it has been unmatched. To reproduce the message:
-Log on to IRIS Fees from IRIS Main Menu.
-Click on Enquiries | Account Details
-Select the Client on which the invoice was posted to.
-High light the Invoice that needs to be reversed and click on View.
-A Screen called Fees Ledger posting : Invoice , will display details of the invoice
After clicking on Reverse, you may get a message displayed “You cannot reverse this Posting because some or all of it has already been matched against some other Posting. Do you want to adjust the account matching and try again?”
This message means that the invoice has been matched, and can only be reversed after it has been unmatched.
-Click on Yes, Fees Ledger Matching screen will be displayed. Select a Fees Ledger Period (if more than one open) in which the Matching Contra entry can be made
-Click on Ok, Fees Ledger Manual Matching Screen will be displayed.
-Highlight the invoice that needs to be unmatched and click on unmatch
-Postings that have been matched to that invoice will be displayed
-If more then one Postings have been matched to that invoice, double click on each one to unmatch.
-Click on Update in the Fees Ledger Manual Matching Screen
-A confirmation screen will be displayed, click on OK
-Select a Fees Period that you would like to enter a Contra Posting.
-Enter the same date for Contra Posting as the Invoice Date
-Under Time, place a tick on “Reverse original WIP adjustment”
-Select a Time period you would like to reverse WIP into
-Click on OK. A Confirmation screen will be displayed
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