I have open Credit Memo and Invoice with the same amount.
When I print the Open Invoices report, both the credit memo and Invoice show on the report with 0 balance. How can I net them out so they won't show on the report. If I go to Receive Payment, these two transaction do not appear.
I can see both transaction on customer transaction history, but if I select the Credit Memo, then select "use credit to apply to invoice", I will get message saying the CM has no remaining balance. I don't know how to un-applied the CM.
RE: When I print the Open Invoices report, both the credit memo and Invoice show on the report with 0 balance.
You'll want to apply the credit memo (not un-apply it) to the invoice.
Do this using the Receive Payments process where you can apply credit to open invoices.