Go into PO Receipt of Invoice. Enter a new invoice number, not the same as the one you originally entered. For invoiced use negative numbers. Post.

That worked. Thank you! One follow up item. Do I have to return the material at the old price and receive it at the new price or can I just enter the new price when I do the invoice receipt?

Correct. If you change the price and post a new invoice you will have a posting to Purchase Adjustments for the difference. To get the true cost you would do a return of goods and post and then go in and change the price on the purchase order and do a receipt of goods and invoice again.

Thank you so much!