In NetSuite, the terms “void,” “cancel,” and “close” refer to different states and actions related to sales orders. Each term has specific implications for how the order is managed and processed. Here’s a detailed comparison:
1. Voided Sales Order
- Definition: Voiding a sales order generally means that the order is considered null and void, as if it was never created. This action is often used to correct mistakes or errors that occurred before the order was processed or fulfilled.
- Implications:
- Financial Impact: Typically, voiding a sales order will remove any associated financial transactions and restore inventory levels to their original state, as if the order never existed.
- Inventory: Items allocated for the voided order are usually returned to available inventory.
- Reporting: Voided orders may not appear in standard reporting as part of your sales metrics, but they will be recorded in the system’s audit trail.
- Process: Voiding is usually performed by selecting a specific action or option in the sales order record, and it often requires proper permissions.
2. Cancelled Sales Order
- Definition: A cancelled sales order is one that is no longer valid and will not be fulfilled or invoiced. This status is often used when an order is terminated before processing due to reasons such as customer request or internal issues.
- Implications:
- Financial Impact: Cancelled orders typically adjust financial records by reversing any revenue that would have been recognized.
- Inventory: If inventory items were allocated or reserved, cancelling the order will typically release them back into available inventory.
- Reporting: Cancelled sales orders will appear in reports, often marked with their cancellation status.
- Process: Cancelling an order usually involves changing the status of the order to “Cancelled” and saving the changes. This action often requires permissions and might be governed by workflows or scripts.
3. Closed Sales Order
- Definition: A closed sales order is one that has been fully processed, including all fulfillment and invoicing activities. It signifies that the order is complete and no further actions are needed.
- Implications:
- Financial Impact: The order is fully processed, and all related revenue and expense records are finalized.
- Inventory: Inventory items associated with the order are considered sold, and any inventory adjustments are completed.
- Reporting: Closed orders are included in final sales metrics and reports, reflecting the order as completed.
- Process: Closing an order typically happens automatically once all fulfillment and invoicing steps are completed. Some systems might have a specific action or status change for manually closing orders.
Summary
- Voided Sales Order: Treated as if it never existed; all related transactions and allocations are reversed.
- Cancelled Sales Order: Terminated before fulfillment or invoicing; impacts inventory and financial records by reversing allocated resources.
- Closed Sales Order: Fully processed and completed; reflected in final financial records and reporting.