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Item Type Setup: Can Refund Indicator be turned on?

Hello,

Can the "Refundable Indicator" box on an item type be turned on if it was mistakenly off? I checked in PeopleBooks and it is a field that is not expressly prohibited (there is no "warning! do not change this setting...). If turned on, does it impact both historical transactions as well as new?

Thanks,

Andrea

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