Unneeded Invoice in A/P - Debit Memo or Adjustment?

Epicor ERP 10
1

This is probably a simple question, and I can think of a couple ways of resolving it. But I would like to hear your opinion on the best method:

We lost a check in the mail from last year and I needed to reissue. I hastily (and regrettably), created a whole new A/P invoice to issue the payment. Really all I needed to do was just reissue the check through payment entry on the same invoice.

I went ahead and cut the check off the new invoice. What should I do with the old? This is a non-operating expense, and no inventory is involved. What is better, creating a debit memo to balance it out to zero or just adjusting the invoice off? Or is there a better method?

Thanks in advance for your time!

2

An Adjustment you will need to enter a GL Account to clear the invoice from GL and the aging report (if still showing).

A debit memo will reverse all once applied.

I’m new to Epicor and in my testing these scenarios is what I found, hope this helps
.

1 Like
3

So it sounds like you would choose to do a debit memo? That’s the direction I am leaning in as well.

Appreciate the quick response!

4

Like I stated I’m new to using Epicor but in my testing and actual doing the DM seems to work more cleanly.

1 Like
5

Everyone should listen to @hvnsheart98. It’s tempting for accountants to want to “fix the ledger” with journal entries. But if you are working in AP (or AR), always use the tools within the module to make corrections and only use Journals for items that don’t have a sub-ledger in Epicor.

It warms my heart to see new users getting this correct from the start! :clap::clap::clap:

6

aww shucks thanks:blush: