6.22.0 Reverse and rebill invoices

6.22.0 Reverse and rebill invoice from closed months

What's new?

Aspire has introduced the Reverse and Rebill feature, designed to help you adjust Fixed Price Open Billing (FPOB) invoices in closed accounting periods. This functionality enables you to void and rebill invoices while maintaining accurate records and linking them back to the original transaction.

Prerequisites

To use this feature, ensure you have the following permissions enabled under your user role at the system level:

• View Invoice
• Edit Invoice
• Reverse and Rebill FPOB Invoice in Closed Months

New invoicing permission

The new Reverse and Rebill FPOB Invoice in Closed Months permission allows you to void and rebill FPOB invoices in closed months. With this permission, you gain access to the Reverse and Rebill bulk actions option on the Invoice screen, allowing adjustments to invoices after the month has closed. 

Reverse and Rebill bulk action

The Reverse and Rebill bulk action is now available on the Invoice screen. This tool allows adjustments to FPOB invoices in closed months while ensuring that changes are accurately recorded and linked to the original invoice.

Steps to Reverse and Rebill an Invoice

1. Navigate to the Invoice screen.
2. Select the FPOB invoice you want to adjust.
3. From the Bulk Actions menu, choose Reverse and Rebill.
4. Update the Amount This Invoice field on theInvoice Schedule of Values screen. This field is pre-filled with the original invoice amount from the closed month, allowing you to modify the value as needed.
5. Confirm your changes.

Results: 

• The system voids the original invoice and generates a reversal entry with a unique identifier (e.g., 1234.001).
• A rebilled invoice (e.g., 1234.002) is created in the current accounting period.
• Aspire redirects you to theBatch screen to process the updated invoices.

Key Details

• Repeat Adjustments: You can use the Reverse and Rebill feature multiple times for client-requested changes. However, it only applies to FPOB invoices. Invoices with Time and Materials (T&M) services are excluded.
• Invoice Tracking: For invoices that have undergone the reverse and rebill process, new elements on the Invoice screen provide enhanced visibility:
  • Rebilled Date: Displays when the Reverse and Rebill bulk action was performed. This date is visible on both the reversed invoice and the rebilled invoice.
    Note:

    The Rebilled Date differs from the Date field in the invoice. The Date field retains the original invoice date, linking all subsequent transactions to the initial invoice.
  • Rebilled Invoice:Displays the invoice number for the rebilled invoice linked to this reversed invoice (e.g., 1234.002). Select the link to open the rebilled invoice.
  • Reversed Invoice:Displays the original invoice number for the invoice reversed in a closed month (e.g., 1234). Select this link to open the original invoice, allowing quick access to its original details before reversal and rebill actions were applied.

Invoice Open Billing and Invoice screens