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

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.