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I think You need to explain more detailed.
You can backorder delivery lines. It's almost the same as reversal. Did You mean this?
Thanks for the reply, what i am looking is when the user does transaction like PO Receipt , order Booked , order picked , can we reverse the status and material transaction be reverted?
You cannot unbook a sales order.
However you can unschedule it, you can unreserve it.
If it has been pick released, you can backorder the move order.
You can then do a Return to supplier transaction which reverses the PO receipt.
If you have invoiced the PO, you can reverse the distribution.
Hope this helps,