ANS-0703 · ACCOUNTING & FINANCIAL CONFIGURATION
How Does NetSuite’s ‘Void Transactions Using Reversing Journals’ Preference Affect Voiding?
Learn how the 'Void Transactions Using Reversing Journals' preference affects the Void button's behavior on different NetSuite transaction types.
Short answer
NetSuite's 'Void Transactions Using Reversing Journals' preference in Accounting preferences governs transaction voiding. When enabled, the Void button's behavior varies: disabled for Journal Entries, creates reversing journals for transactions like Bill Payments, and prevents voiding via reversing journals for invoices. This preference ensures only one voiding method is active.
Scenario
Users encounter inconsistent behavior or absence of the Void button when attempting to void transactions in NetSuite. This often leads to confusion regarding the appropriate method for voiding various transaction types, particularly in relation to the 'Void Transactions Using Reversing Journals' setting.
Solution
The ability to void transactions, including invoices, is contingent on the 'Void Transactions Using Reversing Journals' preference within NetSuite's Accounting preferences.
Navigate to Setup > Accounting > Accounting Preferences.
Locate the 'Void Transactions Using Reversing Journals' checkbox under the General tab.
If this preference is not checked, transactions can typically be voided directly.
If this preference is checked, the behavior of the Void button varies by transaction type:
- On Journal Entry forms, the Void button will be disabled.
- On other applicable transactions, such as Bill Payments and Customer Refunds, the Void button will appear and, when clicked, will trigger the creation of a reversing journal entry.
- For transactions like invoices, enabling this preference means they cannot be voided using reversing journals.It is important to note that these two features (direct voiding vs. voiding using reversing journals) cannot be used simultaneously for the same transaction type.
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