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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Cancel field in vendor...
Finance | Project Operations, Human Resources, ...
Answered

Cancel field in vendor posting profile

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Posted on by Karthik Shriramneni 145
Hi,
 
 
Can someone please purpose / use case of the /cancel/ field in vendor posting profile.
 
I already gone through the microsoft doc https://learn.microsoft.com/en-us/dynamics365/finance/accounts-payable/vendor-posting-profiles ,  but I didn't understood the exact purpose.
 
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  • Verified answer
    Hana Xue Profile Picture
    Hana Xue Microsoft Employee on at
    Hi，
    When a transaction with a vendor needs to be canceled or reversed, the system needs to know how to post the reversal entry in the general ledger. The Cancel field in the vendor posting template is used to specify whether this template should be applied when a transaction is canceled.
    Canceling a transaction usually involves creating a new transaction that offsets the original transaction. For example, if you issue a purchase invoice to a vendor and later need to cancel the invoice, you can create a new transaction (such as a credit note) to revoke the original invoice.
    In summary, the Cancel field in vendor posting templates helps ensure that when you need to cancel a vendor transaction, the system uses the correct posting template to reverse the financial impact of the original transaction.
    Best Regards,
    Hana
  • Suggested answer
    Karthik Shriramneni Profile Picture
    Karthik Shriramneni 145 on at
    Hi Hana Xue,
     
    Thanks for the prompt response !!
     
    Basically when we create a new posting profile the system sets this field as "YES" by default.  Will there be any impact at any level / process if we keep it as "NO".
     
    Can you guide me the impact of this filed at any specific process in F&O, because I tested this at vendor transaction reversal, credit invoicing but I didn't find any impact of this setup.
     
     
  • Hana Xue Profile Picture
    Hana Xue Microsoft Employee on at

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