Reversal of Received Item

Reversal of Received Item

An entry in the Transaction Journal with the memo Reversal of Received Item... is a result of two operations on a Purchase Order. When you Receive Items on a Purchase Order with the status of Order in AccountEdge, a Transaction Journal entry is made updating Inventory with the Received Items. When you convert the Order to a Bill, that Receive Item Transaction Journal entry is reversed, and the Inventory is updated as part of moving the Order to a Bill. (On any bill for an Item purchase, the Inventory is updated to reflect the purchased Inventory.)