Odoo 13 Cancellation of Journal Entries

A journal entry is a recording of a transaction into a journal like the general journal or another subsidiary journal. Journal entries for accounting require that there be a debit and a credit in equal amounts. In accounting, a journal entry is a record of the business transactions in the accounting books of a business. A properly documented journal entry consists of the correct date, amounts to debited and credited, description of the transaction and a unique reference number. A journal entry is the first step in the accounting cycle. Journal Entry Cancellation in Odoo13 is the new advanced feature included in.

Installation of Journal Entry Cancellation in Odoo 13

The “Cancel Journal Entries” module is using for cancelling Journal Entries. Journal Entry Cancellation in Odoo13 is possible by installing it :

 

So first install the module.

Apps->Cancel Journal Entries->Install->

 

To utilize the”Cancel Journal Entries”module, you must enter Developer mode. To do so,

Settings->Activate the developer mode->

To view and cancel Journals go to,

Invoicing->Configuration->Accounting->Journals->

There are many journals in the window.

For example: want to cancel a vendor bill click Vendor Bills->Edit

        

Click Advanced Settings-> Tick the Allow Cancelling Entries

So allowed the permission to cancel Journals in Vendor Bills

Next go to the,

Menu->Purchase->Vendor Bills->

 Select the bill want to cancel, a new window will appear

       

Click the button Cancel Invoice-> and then the bill will cancelled.

The Status of the bill appear as Cancelled.

These are the steps that is commonly use for the Cancellation process of Journal entries.