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Unrealised VAT - unable to reverse Cash Receipt if it has ever been applied

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Posted on by Sue Westlake 149
I have entered a cash receipt from a customer.  Applied the cash to an invoice.  Then unapplied the cash and now want to reverse the cash receipt.
It gives an error 'You cannot reverse VAT Entry No. 28912 because the entry has an associated Unrealised VAT Entry'
 
What is the workaround for this - the vat entries have been cancelled out by applying and unapplying so it should not be an issue.
 
 
 
 
Categories:
Financial Management
  • Judy Profile Picture
    Judy Microsoft Employee on at
    Unrealised VAT - unable to reverse Cash Receipt if it has ever been applied
    Hi Sue,
     
    Thanks for your sharing.
    You are right. When a Cash Receipt has been applied, it may not be possible to reverse.
     
    Best Regards,
    Judy
  • Sue Westlake Profile Picture
    Sue Westlake 149 on at
    Unrealised VAT - unable to reverse Cash Receipt if it has ever been applied
    Hi Judy
     
    When the cash is applied to the invoice it creates a vat entry as follows:
     
    but then the cash is unapplied and it creates another vat entry to reverse the original entry
     
     
    But at this point even through there is no unrealised vat it will not allow you to reverse the transaction.  So it is impossible to reverse any cash that has been posted and applied in error.
     
     
     
  • Suggested answer
    Judy Profile Picture
    Judy Microsoft Employee on at
    Unrealised VAT - unable to reverse Cash Receipt if it has ever been applied
    Hi Sir,
     
    Based on the error message, can you please check if the entry has an associated unrealised VAT entry?
    You can troubleshoot with Telemetry to see if any other valuable errors regarding the issue.
     
    Best Regards,
    Judy

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