Def - Status - Replaced

Owned by Tom Williams
Apr 01, 2020
1 min read

Replaced: Signifies the transaction was voided or corrected. When a transaction is corrected or Voided, the Status of the original transaction is changed to 'Replaced' and a new transaction is cloned and marked as 'Void'. This is done to ensure that a reversal journal entry can be created and posted in an open fiscal period to record the Void.