Voided invoice GST component

Nadoy
Nadoy Member Posts: 3 Novice Member Novice Member
in Accounts Hosted

Hello!

I have voided an old invoice as we figured out it was sent in error. However because the invoice is old I've already paid GST for it.

How do I factor this GST component in the next time I pay tax?

Cheers!

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited February 2021

    I would enter it back in and do a credit note in the current quarter, that way the old figure you paid will still be correct and the gst will be deducted from the next BAS

    And if it was in last financial year those figures will also stay the same

  • Nadoy
    Nadoy Member Posts: 3 Novice Member Novice Member
    https://community.reckon.com/discussion/comment/20615899#Comment_20615899

    I kinda hoped there was an easier way, but thanks, I guess that's what I have to do.

    Cheers!

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    It’s not really hard, if it was a complicated invoice you can just do it as a one liner to a normal item and the credit note the same. When you do the credit note the program will ask if you want to offset it against an invoice and you just say yes

  • Nadoy
    Nadoy Member Posts: 3 Novice Member Novice Member
    https://community.reckon.com/discussion/comment/20615904#Comment_20615904

    Yeah, this invoice is 3 pages long and has dozens of different items that should go back to the inventory as they've never got sent to the customer. It took about 40 min to sort it out.

    I can understand why there is no "magic button" to just copy all data from an invoice into a credit note as 99% of invoices are single item, but I would still be super excited if that button existed.

  • Kris_Williams
    Kris_Williams Member Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    You could have memorised the invoice before deleting it and then called it back up if necessary. As I said if you have to reenter just make a new item and then use the same item for the credit note

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