I created a invoice from invoice journal and posted it. when I am trying to reverse the transaction it is throwing an error ."The ledger transaction type Vendor balance for account 110110----- cannot be reversed". can anyone explain me why it is showing an error and solution for that. Thanks in advance....
When the AP Invoice journal was posted, what was the offset account? Also, make sure that the invoice which you are trying to reverse is not settled. If it is settled, unsettle it and try again.
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In reply to Pranav Kumar:
Thanks for your reply. offset account is bank, I have not settled it yet .I just posted it.
In reply to Anand:
If the offset account was bank, transaction reversal won't work. You can post correction entry manually and then settle both the invoices.
When the sub-ledger is involved as offset account, the transaction reversal from vendor transaction doesn't work.