Correction Instant Invoice—Key Exercises

IMPORTANT
It is extremely important that you set up and work within your own company and with your own customer to maintain your data integrity. If you work with any other objects, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data be isolated in your own company.

Basic Data Setup


Invoice Types for Customer

Purpose: The purpose of this exercise is to set up invoice types used for correction instant invoices.

Windows:
Customer Invoce Types

  1. Open the Customer Invoice Types window and search (F3) for the invoice type CORRINV.
  2. Select the Correction Invoice check box.
  3. Save the information (F12).

Required Data

Sales Object

Purpose: The purpose of this exercise is to set up the sales objects used in instant and correction invoices.

Windows:
Sales Objects

  1. Open the Sales Objects window and create a new record (F5).
  2. Enter information as per the table in the example below.
    Object ID Description Price Taxable Tax Code Account
    SERVICE Service Hours 1000 Select this checkbox if the object is a taxable object Specify a VAT code only if the company's tax regime is VAT or Mixed Select a revenue account from the List of Values
  3. Save the information (F12)

Create Instant Invoice

Purpose: The purpose of this exercise is to create an instant invoice which can be used to correct later.

Windows:
Instant Invoice

  1. Open the Instant Invoice window and create a new record (F5).
  2. Invoice type, invoice date and delivery date are proposed values.
  3. Use the List of Values (F8) to select a customer.
  4. All customer data appears automatically.
  5. Click the Lines tab and create a new record (F5).
  6. Enter the information using the example information in the table below as a guide.
    Object ID Quantity
    SERVICE 10
  7. Save the information (F12).

Print  Instant Invoice

Purpose: The purpose of this exercise is to show how to print instant invoices. The invoice must be printed/posted in order to create a correction invoice.

Windows:
Instant Invoice

  1. Open the Instant Invoice window and search (F3) for the invoice created in the steps above.
  2. Right-click and then click Print Invoice.

Note: A background job will now print the invoices and create vouchers automatically. The invoices will be set to PostedAuth status, which means that they are completed. The preliminary invoice numbers are replaced by a final correction instant invoice number.

Main Exercise

Create Correction Instant Invoice

Purpose: The purpose of this exercise is to create a correction instant invoice.

Windows:
Instant Invoice

  1. Open the Instant Invoice window and query (F3) for the instant invoice created in the previous exercise.
  2. Right-click and then click Create Correction Invoice.
  3. In the Create Correction Invoice dialog box, enter the invoice date and the correction invoice type.
  4. Click OK.

Modify Correction Instant Invoice

Purpose: The purpose of this exercise is to modify the correction invoice in order to correct the wrong information included in the previous invoice.

Windows:
Instant Invoice

  1. Open the Instant Invoice window and query (F3) for the preliminary correction instant invoice created in the exercise above. You can also reach the correction invoice from the original invoice by selecting the right mouse button option Correction Invoice located under View sub menu.
  2. Click the Lines tab. Note that there are two lines automatically created for the invoice. One line is for the reversing entries from the invoice being corrected, and is not possible to be modified. The other line is the one used to enter the correct information.
  3. Modify the debit line information using the example information in the table below as a guide.
    Object ID Quantity
    SERVICE 8
  4. Save the information (F12).
  5. Note that the amount of the correction invoice changes from zero to an amount which is calculated to reflect the correction amount applied.

Print Correction Instant Invoice

Purpose: The purpose of this exercise is to show how to print correction instant invoices.

Windows:
Print Invoice

  1. Open the Instant Invoice window and search (F3) for the invoice created in the steps above.
  2. Right-click and then click Print Invoice.

Note: A background job will now print the invoices and automatically create vouchers. The invoices will be set to PostedAuth status, which means that they are completed. The preliminary invoice numbers are replaced by a final correction instant invoice number.

The printout will contain information about both invoices, the invoice being corrected as well as information from the correction invoice. The increase or the decrease of the correction invoice will also be shown on the correction invoice printout.