How to cancel PO Product receipt if the inventory is closed?

(0) Share

Report

Posted on by Community Member

Hello experts,

The scenario is quite simple: The Product receipt was posted in a past date, and now that the inventory is closed, we ought to cancel this PO. We are unable to do so because of the posted Product receipt.

Any suggestions? I would highly appreciate it if the solution doesn't involve the cancelation of the Inventory Closing.

The warning reads:

"Inventory is closed for physical and financial transactions until xx/xx/xxxx"

All responses (5)

Answers (1)

Suggested answer

Community Member on at

Like (0)

Report

RE: How to cancel PO Product receipt if the inventory is closed?

Hi Sahu,

There's also a third possibility that my Accounting' guys like to do. To post a GL journal to settle the incorrect invoice. For example:

The invoice voucher could be:

D Expense account/Inventory/Fixed assets (etc.)

C Vendor

Then the GL journal is:

D Vendor

C Expense account/Inventory/Fixed assets (etc.)

That way, we get to undo the financial impact, properly settle the Vendor account, and the PO can be closed. Please review your internal processes and the setup of the Accounts, because sometimes the Accounts are blocked for direct posting via GL journal.

Cheers!
André Arnaud de Cal... 294,095 Super User 2025 Season 1 on at

Like (0)

Report

RE: How to cancel PO Product receipt if the inventory is closed?

HI D R Sahu,

You can go to the form 'Closing and adjustment' in the periodic options of Inventory management. Then select a record and click 'Cancellation'. This should always be done in alignment with the finance department.
D R Sahu on at

Like (0)

Report

RE: How to cancel PO Product receipt if the inventory is closed?

Hi André,

Can you please explain the process of "Cancel the Closing." a PO??? please
Community Member on at

Like (1)

Report

RE: How to cancel PO Product receipt if the inventory is closed?

Yeah, I was afraid you were going to suggest that :(

It is either the Credit note or

Cancel the Closing.

I really appreciate it André! Happy new year.
Verified answer

André Arnaud de Cal... 294,095 Super User 2025 Season 1 on at

Like (1)

Report

RE: How to cancel PO Product receipt if the inventory is closed?

Hi Luis,

You can't cancel the product receipt when the inventory is closed on or after the receipt date. The two options you have is creating a

new PO with negative quantities and post a zero invoice or cancel the closing.