Can't reverse a purchase invoice after canceling a Fixed Asset entry

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Posted on by Esteban Navarro

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Hello,

A fixed asset was acquired under the wrong vendor, and the error was found one month later. We went to the FA Ledger Entries, selected the entries, and canceled them through the Fixed Asset G/L Journals. The purchase invoice on the original vendor (the wrong one) is still showing, but Business Central doesn't let us reverse it. We are getting the following error "The Fixed Asset does not exist. Identification fields and values: No.=''

What can be done to reverse this entry?

Thanks.

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Esteban Navarro 241 on at

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RE: Can't reverse a purchase invoice after canceling a Fixed Asset entry

Steve,

Thanks a lot for the answer, it worked.
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RE: Can't reverse a purchase invoice after canceling a Fixed Asset entry

Esteban,

When you reversed the Fixed Asset on the FA G/L Journal the Asset was cancelled and showing 0.00 value. The original Posted Purchase Invoice cannot be reversed now since the Fixed Asset is gone. I would recommend you create a Purchase Credit Memo to the Vendor and Apply the Credit Memo to the Invoice to close the Invoice out. Now here is the issue... Your FA G/L Journal probably Credited Fixed Assets and Debited 'what G/L Account'? If AP, then the Credit Memo will need to post to that G/L Account to eliminate this entry against the open Posted Purchase Invoice.

Hope this helps.

Thanks,

Steve