Microsoft Dynamics 365
Good points Pierre. In Lite (Dataverse only), a full correction cycle (proforma -> confirm -> corrected proforma -> confirm) reverses all Actuals that are created. The Actuals point to invoices so that would be one origin for transactions, while a Journal would hold information for corrections, if Actuals with billing activity could be confirmed.
In integrated (DV+F&O), a full correction cycle corrects invoices in DV and in F&O and corrections update the project subledger and GL.
Time Entries and Approvals
Doesn't this violate GAAP accounting practices. Once something has been invoiced only a credit can be issues, and time would need to be rebilled under a correct entry. Otherwise wouldn't there be orphaned GL and invoices with no associated time entry?