Greetings
What is the best way to record this entry in peachtree?
Invoice #2717 made on June 25th 2002
Fiscal year is closed as of June 30th 2002
On date July 6th 2002, customer decides to cancel the invoice
How can I record this in peachtree?
Was thinking of a reverse journal entry in the GL, but want too leave
an audit trail?
Cheers
Normally I would simply void the invoice, and enter today’s date as the Void
As date. However, I’m don’t think you can void an invoice in a closed year.
(Another reason I wait at least 3 – 4 months after the end of my fiscal year
before closing it in Peachtree). I would suggest posting a new invoice that
negates the first (use negative quantities). This will then effectively
reverse the original invoice, and will update the necessary G/L accounts
(including Sales Tax Liability), and correct inventory counts, etc. Only
thing is that posting a new negative invoice will not automatically clear
the customer’s account. You’ll have to open the Receipts window and click
on both invoices (the original and the new negative), which should cancel
each other out to leave a zero balance on the receipt. Post and you should
be good to go . . .
HTH
Chad
"Tafari" <ras_bunga…@hotmail.com> wrote in message
news:bfb162d3.0207161205.39bc813@posting.google.com…
- Hide quoted text — Show quoted text -
> Greetings
> What is the best way to record this entry in peachtree?
> Invoice #2717 made on June 25th 2002
> Fiscal year is closed as of June 30th 2002
> On date July 6th 2002, customer decides to cancel the invoice
> How can I record this in peachtree?
> Was thinking of a reverse journal entry in the GL, but want too leave
> an audit trail?
> Cheers