NetSuite - Payment cancellations
Payments that were processed with GoCardless can be cancelled as long as the payment has not been submitted to the bank for processing.
To cancel a GoCardless payment, you can use the “Cancel payment” button on the invoice. This button will only be available for selection while the payment is in the “Pending submission” status.
Once the cancellation request is processed, the “payment status” on the invoice will transition from “Pending submission” to “Cancelled”:
When this occurs, the handling will depend on your NetSuite accounting settings - specifically whether the “Void Transactions Using Reversing Journals” setting is enabled or disabled.
When the “Void Transactions Using Reversing Journals” setting is enabled, a credit memo will be created against the invoice to represent the cancellation, and the invoice will be marked as “Paid in full” as a result:
When the “Void Transactions Using Reversing Journals” setting is disabled, the invoice will be Voided:
Data flow - payment cancellations