Credit for unpaid invoice

[KrisH]

Hi all,

I am a new bookkeeper, our company had an invoice of $35,000.00 for October, the invoice has not been paid but it was recorded in MYOB in Oct. The BAS for Oct has been lodged and this week I received a credit of $100,000.00 from the supplier. I created a new invoice (same invoice number) with a new invoice date (which is the date I received this credit) with a negative $100,000.00 in MYOB to against the original invoice.

My question is the way I did above is correct? 

Thanks. 

[Steven_M · Accepted solution]

Hi @KrisH 

Seems like a pretty solid process to me. 

I would just make sure that the negative transaction is dated in the appropriate period as this is the date it will be reported on for BAS and other reports.

[KrisH]

Thanks Steve. I used 1st November as the invoice date for the negative transaction.