Cancel an Entire Partner Contribution

Cancel a partner contribution to reverse the opening amount transaction as well as any additional amount transactions that replenished the partner contribution balance. You can cancel a partner contribution only if the open amount hasn’t been used to settle distributions.

The cancellation method depends on how the opening amount was invoiced:

• If you have used a manual invoice or journal entry for the opening amount, you must create a credit memo or reversing journal entry and then enter the transaction details in the partner contribution.

  See Cancel a Partner Contribution with a Manual Transaction.

• If you have invoiced the opening amount using the partner contribution invoicing process, you must complete the partner contribution cancellation processes and create the credit memo using the Import AutoInvoice process.

  See Cancel a Partner Contribution Through Scheduled Processes.

When you cancel a partner contribution, the open amount that’s available to draw changes to zero.