It may be necessary to cancel a contract due to for example.:
ü Various errors
ü Overdue contracts
You cancel a futures contract with the change status button. You will need to select a cancellation reason code if it is set on in the setup (recommended).
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You will get a similar question:
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When you answer "Yes" various errors/reasons or overdue contracts.
To cancel, go to Change Status.
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Select Cancelled and then click on Yes.
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Then the system wants to confirm the action. Click on Yes all instances of the futures contract on invoices (not posted or posted) and entries (customer/vendor ledger entries) will be removed.
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After
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the status has been changed to canceled, the
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status cannot be reversed.
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You will need to select a cancellation reason code if it is set on in the setup (recommended).