Void an Unpaid Invoice

When you void an uncollected invoice from a closed period, the original is voided and a reversing entry is created in the current period. These entries are view-only.

In accrual basis accounting, even if the invoice was not paid, the transaction information must be retained and reversed. This is necessary because the original invoice affects expense and liability accounts. Information must be retained since you can switch between cash and accrual.

CAUTION: Be careful. Voiding a transaction cannot be reversed.
  1. On the Transactions tab, click Expenses > Invoices.
  2. In the Invoices window, locate the unpaid invoices that you want to void or delete.
  3. Click Void/Delete.
  4. Enter an optional description of your reason to void or delete the unpaid invoice.
  5. Click Void or Delete.
    Note: You should only delete an unpaid invoice if you entered it by mistake.

If you void an unpaid invoice from a closed period, "Voided by Reversing in a Later Period" displays in red next to the Distribution grid. If you void an unpaid invoice from the current period, "Voided" displays.