Cancellation of old material document in current financial year

[arsrinivasan]

Hi Everyone !

There is one material document which has been posted by mistake on last financial year (July - 2022). It has been found recently and my client wants to reverse the same. We can do the cancellation in MIGO transaction. But we can post it only in current period (May 2023) or in previous period (April 2023).

My query is that, can we do the cancellation in current financial year for the above said material document ???

FYI >> The above said material document is Good issue against Maintenance order.

[ankurch]

Add tag for Finance as well.

cause in MM you can do the reversal in current period only, but it is possible for a Finance person to nullify the entries in previous period, so FI team can make impact zero on that particular posting.

[BijayKumarBarik]

Last your MIGO document you wanted to cancel!

Once you post MIGO document GR/IR clearing account updated and you need to discussion now with your Finance Team to understand how frequent GR/IR reconciliation carried out in your business. If last year GR/IR reconciliation done and now you wanted to cancel MIGO document- how to manage your GR/IR clearing account after posting now.

Alternatively you can try return delivery at present date!

[Oscar_DC]

You've to make sure that your PM order is not business closed (and I believe it can't be TECOed either). Technically you can do the reversal in the current period, that won't be a problem.

What you must do is check the period in which the financial document gets generated. If it was a non-valuated material, then you've nothing to worry about . If it is a valuated material, then the posting date of the financial document will be the posting date of your material document.