We use a third party system as our ERP so our AR group has no issues on their end with applying a payment to an invoice and then unapplying it because it needs to be applied elsewhere. Current functionality does not allow for Payments to be cancelled after a Accounting Period has been closed. According to documentation the recommended action is to issue a refund if the payment needs to be reversed, https://knowledgecenter.zuora.com/CB_Billing/K_Payment_Operations/E_Cancelling_Voiding_and_Deleting_... .
This is an issue since we represent our customers payments on our invoices. If a Payment is applied to the incorrect invoice and this is not noticed until after the Accounting Period has closed the customers invoice will always reflect the incorrect payment. While issuing a payment refund will re-open the invoice balance, it does not un-apply or cancel the original payment. When the invoice is regenerated as a result of the refund the invoice template now shows both the original incorrect Payment and the subsequent refund we have had to issue to resolve the balance.
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