Hey, does anyone know to reverse an item receipt for inventory that was not billed? Im not sure I want to do a Vendor Return Authorization because this will want me to create a Bill Credit but we were never billed for these items.

You could just adjust the inventory using Inventory Adjustments to correct the stock

Other than an inventory adjustment there is no way to reverse the item receipt, correct? I found something about Inbound Reversals but I think thats a WMS feature.

Just doing an IA to adjust it back out, can potentially mess with the costing and the financial impact involved with the inventory. The best, and correct way from an audit perspective, is to do the Vendor Return Authorization. It has been a little bit, but if I remember correctly, there is a way to eliminate the need for the Bill Credit that usually goes along with this, but I'm not sure.

Yeah I dont like the idea of doing a IA and would rather do a VRA but doing this leave a balance in the Purchases Returned Not Credited account and Im not sure how to get rid of this.

Not sure if ok with your accounting department, but those could be voided using a Journal entry?

You could also generate the invoice and put a comment on it that it was created as a dummy invoice for crediting to reconcile the gl