Use a reversal to correct a credit note, payment, refund, or write-off that was created in error. A reversal records the transaction’s opposite financial effect while keeping the original transaction and its history available for review.
Invoices cannot be reversed. To correct an invoice, create a credit note instead.
Before you reverse a transaction
You need Owner, Admin, FinanceAdmin, or FinanceUser role. You can reverse the entire transaction only, not part of it. You must enter a reversal date and can add a reason.
The reversal date must be both:
- On or after the original transaction date: the issue date for a credit note, payment date for a payment, refund date for a refund, or write-off date for a write-off.
- Later than the accounting lockdown date.
The original transaction date can be before the accounting lockdown date. The reversal date must still meet both date rules.
A transaction must also meet the eligibility rules for its type. See the relevant how-to articles to learn more:
What happens when you reverse a transaction
The transaction’s status changes to Reversed. Wisenet records the reversal date, the user, and the reversal in the transaction timeline. Reversals also appear in the Finance timeline, including Transaction History.
Reversed transactions cannot be used for further financial activity. For example, you cannot allocate a reversed payment or credit note, or create a new refund from them. The original transaction’s financial details are locked. You can still add file notes and tasks, update custom fields, and, where supported, send an email.
Wisenet does not send an email automatically when you reverse a transaction. You can send an email from a reversed credit note, payment, or refund using the matching template: Credit Note Reversed, Payment Reversed, or Refund Reversed. You cannot send an email from a reversed write-off.
Accounting and visibility
A reversal appears in the Journal Export as a separate entry from the original transaction. It uses the reversal date and the original account and tax details, reverses the original debit and credit values, and adds R to the original transaction reference. For example, CRN-0626 becomes CRN-0626R.
Reversed transactions remain visible on the relevant tab of the debtor account. They do not appear on debtor statements or in the Learner App. They appear in the Invoice App marked Reversed.