How to Reverse a Receipt in Sage 300

Purchase Order Receipt Reversal

For Uninvoiced Receipts When dealing with a receipt that hasn't been invoiced yet, the simplest approach is to reopen the PO Receipt and modify the quantity received. This action automatically places the items back on backorder status.

For Invoiced Receipts If the receipt has already been invoiced, you'll need to follow a two-step process:

1. Create a PO Return Entry
2. Issue a Credit Note against the Return

Alternative Method You can also handle the reversal through Invoice Entry by modifying the Quantity Invoiced field. After posting the invoice and running Day End Processing, the system will automatically:

• Process a "Receipt Adjustment" transaction
• Complete the PO Receipt Note that this method prevents future receipt of goods on that particular receipt.

Bank Services Receipt Reversal

Prerequisites

Before initiating a receipt reversal, ensure:

• All open batches in the relevant subledger are posted
• You have proper security authorization for reversing transactions
• You have access to the Bank Services module

Step-by-Step Reversal Process

Accessing the Reverse Transactions Screen

1. Navigate to Common Services > Bank Services > Bank Transactions > Reverse Transactions.

Basic Information Entry Enter the following essential details:

• Bank Code
• Source Application
• Document information
• Reversal reason

Single Transaction Reversal For reversing an individual receipt:

• Enter the customer number (if applicable)
• Input the Check/Receipt number
• Specify the reversal date
• Provide a detailed reason for reversal

Multiple Transaction Reversal To reverse multiple receipts simultaneously:

• Select "Reverse Multiple Transactions"
• Define selection criteria using the From and To fields
• Click Go to display matching transactions
• Double-click the Reverse column to mark transactions for reversal

Effects of Receipt Reversal

Financial Impact

When you reverse a receipt, several automatic updates occur:

Bank Services Updates

• Creates a withdrawal entry on the Reconciliation tab
• Adjusts the bank account balance accordingly

Accounts Receivable Impact

• Updates customer account balances
• Releases any paid invoices
• Changes payment status to Reversed or Returned

Special Considerations

Bank Services-Entered Deposits

• Complete deposit removal occurs for current versions
• For versions 5.5 or earlier, the system creates an Outstanding status entry
• Cleared deposits cannot be reversed directly

Additional Costs When reversing purchase order receipts, be aware that additional costs such as:

• Freight charges
• Duty fees
• Other supplementary costs will not automatically reverse with the transaction

Verification Process

Confirming Reversed Transactions

To verify that your reversal was successful:

Transaction History Review

1. Access Bank Services
2. Navigate to Transaction History Inquiry
3. Enter the relevant bank code
4. Select the appropriate module
5. Click Go to view the transaction list

Document Status Check Review the following elements:

• Transaction status should show as "Reversed"
• Original document references
• Associated withdrawal entries
• Updated customer or vendor balances

Best Practices

Transaction Management

To ensure smooth receipt reversal operations:

Documentation

• Maintain detailed records of reversal reasons
• Keep supporting documentation for audit purposes
• Document any special circumstances or considerations

Timing Considerations

• Process reversals as soon as errors are identified
• Ensure all related transactions are posted before reversal
• Consider fiscal period implications when selecting reversal dates

Error Prevention

Pre-Reversal Checks

• Verify the original transaction details
• Confirm the correct receipt is selected
• Review all linked documents and entries
• Ensure proper authorization is in place

System Maintenance

• Regularly reconcile bank statements
• Keep system versions current
• Maintain proper user access controls

Troubleshooting Common Issues

System Limitations

Cleared Transactions For cleared bank-entered deposits, you cannot perform a direct reversal. Instead:

• Process a withdrawal for the equivalent amount
• Ensure proper documentation of the correction process

Version-Specific Behavior Different versions of Sage 300 handle reversals differently:

• Newer versions remove entire deposits
• Older versions (5.5 and earlier) create outstanding status entries

Resolution Strategies

When Reversals Fail If you encounter issues during the reversal process:

• Verify all prerequisites are met
• Check user permissions
• Ensure no system locks are in place
• Confirm all required fields are properly completed

Complex Scenarios For situations involving multiple currencies or complex allocations:

• Consider consulting with accounting professionals
• Document each step of the resolution process
• Maintain clear audit trails

The ability to reverse receipts in Sage 300 provides necessary flexibility in managing financial transactions while maintaining accurate records. Understanding the proper procedures and implications ensures smooth processing and accurate financial reporting.

Sources: [1] https://www.acutedata.com/how-to-reverse-a-receipt-entry-in-purchase-order-for-sage-300/ [2] https://help.sage300.com/en-us/2024/classic/Subsystems/BK_2024/Content/Transactions/SCREENS/ReverseTransactions.htm?TocPath=Bank+Services%7CScreen+Guides%7CTransactions%7C_____7 [3] https://www.youtube.com/watch?v=zsYKPcu87nw [4] https://www.greytrix.com/blogs/sageaccpacerp/2014/02/25/reverse-receipt-and-payment-in-sage-300-erp/ [5] https://communityhub.sage.com/us/sage300/f/financials-suite/148305/is-it-possible-to-reverse-a-receipt-in-the-po-program-that-has-been-full-received-and-invoiced [6] https://help.sage300.com/en-us/2024/classic/Subsystems/BK_2024/Content/Transactions/ReverseTransactions/ReversingTransaction.htm [7] https://documentation.help/BK62AENG/form_reverse_transactions.htm [8] https://www.youtube.com/watch?v=jMGo_E-_2uA [9] https://www.greytrix.com/blogs/sageaccpacerp/2013/11/18/reverse-transactions-receipt-reversal-transaction-in-sage-300-erp/ [10] https://communityhub.sage.com/us/sage300/f/financials-suite/193250/ar-receipts-reversals [11] https://help.sage300.com/en-us/2025/classic/Content/Financials/Bank_Services/Processing_Transactions/SCREENS/ReverseTransactions.htm