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How can I correct a transaction that has mistakenly appeared in previous (closed off) financial ...

Margriet

year?

What happened is this:: I recorded a debtor invoice accidentally with the wrong date (24 March 2021 was the date the sales order was created) instead of today’s date 31 January. The invoice date was easily changed. But. Then I realized that, of course, the deposit paid by debtor had been automatically transferred out of "customer deposits" account with that wrong date. From closed off financial year. Can you please let me know how to journal my way out of this situation?

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Accepted answers

CloverQ

Hi @Margriet

Thank you for the screenshots.

When you recorded the initial deposit/payment to the order, it would have been received into a bank account, doing the refund now would cancel that effect. You can look for the initial deposit by clicking into the invoice > click on History next to the amount applied > look for the payment received line (transaction type CR), click on the arrow next to it to bring up the Receive Payment window, it will show the bank account it was deposited into.

Your screenshots shows that the payment received on the order was not the full amount. So with the credit note created from the reserved invoice, please first apply the credit note to the original invoice to close it off. The remaining credit should be the same amount of the original deposit, refunding that would return the bank balance back to before the deposit was first recorded.

If you have any further questions please feel free to post again.

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Margriet

Hi Clover,

Thanks for your reply. I'm working my way through this, now up to recording a refund and am a bit stuck. How do I process a refund without upsetting bank balances? Should the "back order" be a part of the fixing up process? See attached screenshots so you can see history.

Regards,

Margriet

InkedCapture.1JPG_LI.jpg

Hi @Margriet

If it was originally recorded as a sales order with payment received, then converted to an invoice, the payment and invoice cannot be deleted then. You can only reverse the invoice, the reversal can also be recorded in the closed financial year as well (v2020.2 and above). The reversal will result a credit which can be refunded to cancel out the initial invoice payment received. After that, you can then record the invoice & payment again with the correct date.

I hope this helps, please feel free to let us know if you have any further questions.