We have raised a sales invoice in December 2024 covering a 12 months period. We now have a sales invoice, and a revenue arrangement schedule recorded. In January 2025, I need to cancel this invoice. What are the steps to correctly cancel invoice and stop the revenue arrangement created ?

AI generated answer (using internal Slack threads):

To cancel the invoice and stop the revenue arrangement created, you would need to create a return authorization. This will create its own negative revenue plan, and the two plans will cancel each other out. Here are the steps to follow: 1. Go to the original sales invoice and click on 'Return Authorization'. This will create a return authorization for the invoice. 2. Approve the return authorization. This will create a negative revenue arrangement. 3. The negative revenue arrangement will offset the original revenue arrangement, effectively cancelling it out. Please note that this process assumes that your NetSuite account is set up to recognize revenue from the invoice and not the sales order. A sales order is a non-posting transaction and does not have an accounting impact until items are shipped and an invoice or cash sale is created from the sales order to bill the customer for the items. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******