How To: Reverse a Settlement Discount

Table Of Contents

Delete an Opening Balance or Settlement Discount
What Happens Next?
Additional Information
Related Articles
You can use this process to remove a supplier opening balance or reverse a settlement discount (P/Credit) that has been entered against a supplier account.
When the transaction is deleted, any associated VAT recorded against the entry is also removed.
Warning: Deleting an opening balance or settlement discount is permanent and may affect your supplier account balances and financial records. Ensure the transaction is no longer required before proceeding.

Delete an Opening Balance or Settlement Discount

  1. Open the Supplier screen (Show me how).
  2. Use the filters at the top of the screen to locate and open the required supplier record.
  3. Open the [ Supplier | Detail | Statement ] tab.
  4. In the statement transactions grid, locate and select the P/Credit transaction or opening balance you want to remove.
  5. Right-click the transaction and select Delete Opening Balance/Unalloc Transaction from the shortcut menu.
  6. When the confirmation message appears, click Yes.
  7. When the warning message appears, click Yes again to confirm the deletion.

What Happens Next?

Once confirmed:
  • The selected P/Credit (settlement discount) or opening balance is deleted.
  • Any VAT associated with the transaction is also removed.
  • The supplier account balance is updated accordingly.

Additional Information

  • This process can be used to remove supplier opening balances entered in error.
  • Settlement discounts recorded as P/Credit transactions can also be reversed using this method.
  • Changes take effect immediately once the deletion has been confirmed.

See Also


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