Cancel Cash Sale / Invoice

Owned by l (Unlicensed)
Last updated: 2017-Feb-02 by Priyasri Subramaniam (Unlicensed)
2 min read
Menu Path: Trading > Sales > Cancel Cash Sale / Invoice


We know that Cash sale in Wavelet EMP consist of 2 components, namely:

  • Invoice
  • Receipt

Cancelling the Cash Sale actually refers to reversing the Cashsale. Therefore, the journal entry for the original cashsale and reversed cashsale will appear in the financial statements, wherever applicable.


  • Type in the Invoice Number that needed to be cancelled and click Submit.
  • The following interface will be displayed.

  • Type in the Remarks. 
  • System auto created the Sales Return (SR) & Credit Memo (CM) documents to contra the Invoice(INV) and auto reversed the receipt (RCT) - No outstanding Amount in customer account. 
  • IF only the Invoice created (without the collection), System auto created the Sales Return (SR) & Credit Memo (CM) documents to contra the Invoice(INV).
  • IF the Cash Sales is consist with more than one payment mode (Cash + 2 Credit Cards or multiple Credit card), user need to manually reverse the Receipt (RCT)** and create the Sales Return by Invoice, then manually contra the CM with Invoice.
  • Ensure that the Sales Return date is correct and proceed to click Cancel Cash Sale. 
    Note! If the receipt was correct, no need to reverse. 


Reverse Receipt

  • Finance > Receipt Voucher > Reverse Receipt 
  • Enter the Receipt number (RCT number)
  • Click Submit
  • Enter the remarks why the receipt need to be cancelled
  • Click “Reverse The Receipt No.
  • When a receipt is reversed, the invoice becomes outstanding again, since there's not collection tied to this receipt. A reverse receipt will also reverse corresponding entries in the journal transaction, as well as updating your cash books.
    Note! if the receipt was correct, no need to reverse.

Sales Return by Invoice

  •  Trading > Sales > Sales Return by Invoice
  • Enter the Invoice number (INV no)
  • Refund Type: Credit Memo Only
  • Enter the remarks why the invoice need to be cancelled
  • Confirm and Save, the Sales Return and Credit Memo will be auto-created

Contra 


Found 2 search result(s) for cashsale.

Page: Sample Cashsale / Invoice (Wavelet Management Suite)
2021-Jan-26
Page: Upload Cashsale (Wavelet Management Suite)
2017-Dec-07

Found 3 search result(s) for reverse.

Page: Reverse PV (Wavelet Management Suite)
2017-Dec-13
Page: Reverse Receipt Voucher (Wavelet Management Suite)
2017-Jan-31
Page: Customer Credit Memo Reverse (Wavelet Management Suite)
2017-Dec-27



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