You may need to Cancel a Bill if you want to add, delete or modify items in a bill, or quantity or price of those items. These are not editable after a bill is saved. So if a mistake has happened, simply Cancel the Bill and make a new one.
However, please note, canceling a bill does not cancel the payment that came with it. So there is no need for you to take in a new payment, since the one you took earlier still exists. Even though the bill has been canceled. If however, you have made a mistake in the payment also and want to cancel the Payment, you can do so manually.
Here are the steps to Cancel the Bill.
1. Go to Financials | Search Bill | Select Bill, a new Edit Bill window will open.
2. Go to More Options | select Cancel | Save.