Deleting credit notes - are there any dependencies?

MM_7769277 Member Posts: 115
edited August 2016 in Accounts Hosted
I have inherited a system whereby the previous admin applied all the credits to the wrong invoices. Now, when I go to reconcile the supplier's statement, it's a dog's breakfast.

It suddenly occurred to me this morning, that there might be a way to fix it without impacting on previous bank recs or BAS periods.

Could we simply void (or unapply) credit notes in order to reapply them properly, even if they go back several accounting periods?

Surely, because there's no actual transfer of funds, it wouldn't matter if it was from last financial year? Then it frees up those invoices that haven't actually been paid on the supplier side to be paid in full by us, and clears our account with them.

Interested to hear what everyone has to say! Thanks in advance!


  • Shane O'Meara
    Shane O'Meara Member Posts: 8
    edited November 2015
    I have not done it but I believe you could edit the transaction for the credit and that would give you the opportunity to change the supplier. You would have to make sure it was all done in the same accounting period and to the same GL codeto negate the GST impact on BAS and financial reporting. In regards to last finacial year I would check with your accountant to see if the year has been closed or reports finalised.
    Good luck with it.