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Void Payment is very helpful when you want to void a payment on a customer account.
Let’s say, for example, that you misapplied a payment to the wrong account or that a customer’s check bounces after you have posted the payment in Navision.
Normally, you will now have to manually create credit memos and debit memos on the customer account to reflect in Navision that the money is still owed.
You also have to reverse the check in the Cash Management system. All of these entries make it harder to get a true picture of your transactions with your customers.
The Void Payment function reverses the payment and reopens the applied documents (typically invoices).
Everything is tracked in Navision so you will be able to see that the payment was voided. In other words, your audit trail is intact.
"Void Payment" is part of the Navision Software Enhancements line of products, developed by SimCrest.
Navision Software Enhancements is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.