Pro Forma Invoice Correction: General Information

You can make corrections to a pro forma invoice with the Closed status even if the corresponding accounts receivable document created based on this pro forma invoice has already been released.

Learning Objectives

In this chapter, you will learn how to do the following:

  • Make corrections to a pro forma invoice that has the corresponding AR document released
  • Review the previous revision of the pro forma invoice.

Applicable Scenarios

You correct a pro forma invoice if you need to keep its reference and application numbers. For example, you may need to correct an existing pro forma invoice because it has been used for printing the AIA Report (PM644000) report.

Making Corrections to a Pro Forma Invoice

You can correct a pro forma invoice for which the corresponding accounts receivable invoice has been released if the following conditions are met:

  • The pro forma invoice has only progress billing lines.
  • The application of payments are removed or the payments are voided for the corresponding accounts receivable invoices.
  • Corresponding retainage invoices related to the pro forma invoice are reversed or deleted.
  • The billing currency is the same as the project currency.

To assign a pro forma invoice the On Hold status so that it can be edited, on the More menu of the Pro Forma Invoices (PM307000), you click Correct. The system changes the status of the pro forma invoice and adds a line with the previous revision of the pro forma invoice to the Previous Revisions table on the Financial tab.

When you make all the needed adjustments to the pro forma invoice and release it, the system creates the accounts receivable document with the full amount of the corrected pro forma invoice. The system also creates a reversing AR document with the On Hold status to completely reverse the accounts receivable document related to the previous revision of the pro forma invoice.

The previous revision of the accounts receivable document, as well as the reversing AR documents, are shown on the Financial tab (Previous Revisions table) of the Pro Forma Invoices form and on the Invoices tab of the Projects (PM301000) form.

Workflow of Correcting Pro Forma Invoices

The following diagram illustrates the workflow of correcting a pro forma invoice.