Entering Reversal Vouchers
This section provides an overview of reversal vouchers and discusses how to create reversal vouchers.
Reversal vouchers enable you to do several things. Primarily, reversal vouchers let you back out incorrect vouchers and start over. Suppose that you inadvertently enter the wrong amount on the voucher or reference the wrong purchase order. Rather than unposting, undoing the match, and closing the voucher, you can simply enter a reversal voucher, and the system does the rest of the work for you. You can even enter a reversal voucher for a voucher that has already been paid.
Important! Normally, you should use the PO voucher close functionality instead of the reversal voucher functionality, because the PO voucher close functionality is more sophisticated and efficient. In general, use the Reversal Voucher feature only when your organization has existing reversal vouchers to manage.
Reversal vouchers also enable you to restore the encumbrance for actuals and budgets and reduce the purchase order's matched quantity or amount. If you are using the Commitment Control feature to check transactions against control budgets, you can use a reversal voucher to reinstate encumbrances, though using the PO voucher close functionality is more efficient.
If you use Matching and you opt to restore the encumbrance and reduce the purchase order's matched quantity or amount, the Matching process updates the purchase order and the receiver match status changes to Partial.
Note: The system provides a warning when you attempt to restore the encumbrance on a voucher that you have partially paid.
Reversal vouchers are similar to adjustment vouchers in all aspects except that:
Reversal vouchers are designed to correct only a single voucher.
When you create reversal vouchers by copying from a regular voucher, the freight, miscellaneous, sales tax/use tax, and VAT-related information from the regular voucher is copied to the reversal voucher.
Reversal vouchers are always credit vouchers.
All voucher lines and distribution lines of correction vouchers must have the reverse sign of the original voucher, and all voucher lines that reference a purchase order must be less than zero.
The transaction currency of the reversal voucher must be equal to the source voucher.
Note: The system does not prevent users from reversing the voucher line, distribution line, or quantity and amount more than the original value, and no validation exists to check the reversal voucher gross amount. You can, however, enable security such that only authorized users can add and update reversal vouchers.
When the Commitment Control feature is not enabled, you can close both regular and purchase order-related vouchers using the Voucher Mass Maintenance component, the PO voucher close functionality, or a reversal voucher. Once the vouchers are marked for closure, you must repost them to create the closure entries.
Note: The PO voucher close functionality is integrated with the Voucher Posting process. When you close and post vouchers using this functionality, the Voucher Posting process can activate the Undo Matching process, which unmatches purchase order-related vouchers that meet certain criteria. The Reversal Voucher feature does not have this functionality.
When the Commitment Control feature is enabled, you can create a reversal voucher to close purchase order-related vouchers so that the system can restore the encumbrance. However, using the PO voucher close functionality here is more efficient.
Reversal vouchers use the same pages as regular vouchers, although the pages contain some different fields, field values, and processing.
See Understanding Voucher Processing and the Voucher Life Cycle.
To create a reversal voucher:
Select Reversal Voucher as the voucher style on the add search page for the Voucher component and click Add.
Enter the voucher ID of the voucher that you want to reverse and select Reverse Voucher check box.
This field is located on the Invoice Information page in the Copy From Source Document group box.
Note: Source vouchers must have the same business unit, supplier SetID, and supplier ID as the reversal voucher that you are creating. They must also be successfully budget checked and matched.
You also can:
Select the Reverse Remaining Vchr Balance (reverse remaining voucher) check box to reverse the remaining voucher balance.
This field is used with partially paid vouchers. For example, suppose a voucher of 1000.00 EUR is to be paid in two installments of 700.00 EUR and 300.00 EUR, and the first installment has been paid. By selecting the Reverse Remaining Vchr Balance check box, you reverse the remaining 300.00 EUR. This is similar to closing the remaining balance; however, it also reverses the related encumbrance, unmatches the voucher, and so on.
If you do not select the Reverse Remaining Vchr Balance check box, the system reverses the entire voucher.
If the voucher that you are reversing references a purchase order, and you are using Commitment Control, select the Adjust PO Amounts/Encumbrances check box to restore the encumbrance.
Click the Copy to Voucher button.
Note: This is for Federal G-Invoicing EZ Reversal Vouchers only.
Upon clicking the Copy to Voucher button, source EZ regular voucher data will be copied to the Reversal Voucher, and a Related Voucher number will also be automatically populated. Click the G-Invoicing link to view the EZ Number, GTC Number, Performance Date, Transaction Date, and Reject By Date, along with Preparer Name, Email, and Phone number. On the G-Invoicing page, select the Reversed EZ Number and enter Authorized Name, Email, and Phone number.
If you want to reject the EZ invoice from PeopleSoft, first create a regular voucher and then create a Reversal Voucher without Reversed EZ Number. Push the voucher details to the G-Invoicing system to create the rejected EZ invoice using the G-Invoicing Push EZ Invoices Page.
For more information on various scenarios of creating reversal vouchers, see Creating G-Invoicing 7600EZ Reversal Vouchers.
Save the reversal voucher.
When you save the reversal voucher, the system automatically populates the Related Voucher field (in the Invoice Lines region) with the original voucher ID.
(Optional) Run the Budget Processor and Matching processes.
If you have enabled Commitment Control or matching, you must run these processes after creating reversal vouchers.
Note: The reversal voucher goes through the Pay Cycle Application Engine process (AP_APY2015) as a credit memo. The offset is settled during payment creation. The referenced voucher and the reversal voucher zero out.
If you use reversal vouchers to close a voucher, the system does not create closure entries for the original voucher. The reversal voucher entries should be sufficient for accounting purposes.