Consigned item reversal

When a consigned item is issued in error, Is there a delivered way to reverse the financial side of this error?

This is the issue we are facing:

When the inventory is returned it will correct the on hands, but does not reverse the debits and credits.

Then when the item is issued out again, the same debit and credit are completed on the financial side again.

This causes the department to be debited twice, or more, for the same item. It also causes our Accrued Inventory Liability Account to be overstated and makes it impossible to reconcile the account.