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Thread: How to 'cancel' invoices in previous financial year on Pastel Xpress V11

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    Post How to 'cancel' invoices in previous financial year on Pastel Xpress V11

    Hi everyone

    I just started at a new job and there are a bunch of mistakes that need to be corrected, and I would love to get some advice from everyone.

    We have invoices that were created for customers and the invoices need to be 'canceled', I have no idea how to cancel an invoice where the batch has already been updated and where the invoice is in the previous financial year.

    I am new to Pastel and would appreciate some guidance.

    Thanks

    Angelic

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    Platinum Member Mike C's Avatar
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    Hi Angelic,

    I would suggest that it is never a good practice to cancel an invoice.

    It would be better to use a credit note to "cancel out" the amount created by that Invoice with an explanation as to why it is being credited.

    As the Financial Statement for last year would include those Invoices, it is not a good practice to mess around with last year's dates. Rather make your changes in the present year which will then rectify the amounts accordingly.
    An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't. - Anatole France

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    Hi Mike

    Thank you so much for your advice, I was thinking the same thing, I just wanted to make sure that, that is the best way to do it.


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    Platinum Member Neville Bailey's Avatar
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    Also, to add to Mike's good advice, Pastel does not allow you to process invoices or credit notes in a previous financial year, although you can process prior year journals.
    Neville Bailey - Pastel Accounting Consultant and Photographer
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    Hi

    I'm also new to Pastel and have a similar problem to Angelic. An invoice and a payment were allocated to the wrong client in December last year.

    I think I'm alright to do a journal to correct and reallocate the payment but I'm not sure how to reverse the invoice? Is there a way of doing so it won't stick out like a sore thumb on the client's statement?

    Thanks in advance!

    Becky

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    Hi I am having a similar problem too. I have an invoice outstanding from the previous financial year. I have issued a Credit Note, linked to this invoice, however it still shows up as outstanding when I print an "Invoices Outstanding"report. I assume this is because the Credit Note is issued in the current financial year.

    Any advice? I don't think Pastel will allow me to issue a credit note on the previous financial year once it has been processed.

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    Quote Originally Posted by Becky Handy View Post
    Hi

    I'm also new to Pastel and have a similar problem to Angelic. An invoice and a payment were allocated to the wrong client in December last year.

    I think I'm alright to do a journal to correct and reallocate the payment but I'm not sure how to reverse the invoice? Is there a way of doing so it won't stick out like a sore thumb on the client's statement?

    Thanks in advance!

    Becky
    Aaah never mind my question. the way to clear it is to go to "Process - Match Open Item" and then select the periods you need. It does seem you can only go back 4 periods, but it it is far enough for me for me, so I can link the credit note to the offending invoice. It no longer shows up as outstanding. It is strange that Pastel doesn't do this automatically across end of year dates since the Credit Note is actually linked to the Invoice.

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