Voiding Invoices in Client/Trust Accounting

  • Updated

For those located in the Asia-Pacific region, the term "Trust Account" is commonly used, whereas customers in Europe will refer to this as a "Client Account". For a deeper understanding of regional terminology, please visit our Glossary of Regional Terminology.

This article explains how to void an invoice, an action that marks an invoice as cancelled and non-processable. It's important to understand that voiding an invoice is a permanent action and can only be performed on approved or draft invoices. Additionally, invoices with applied payments cannot be voided unless those payments are first reversed, which will require that there are sufficient available funds in your ledger. We will guide you through the steps to void an invoice, as well as outline what to consider before doing so.

When to Void an Invoice

Voiding an invoice should be done when you need to permanently remove an approved invoice from the accounting records. Common reasons to void an invoice might include:

  • The invoice was issued in error.
  • The services or goods were cancelled.
  • A duplicate invoice was created.

Steps to Void an Approved Invoice

  1. Navigate to the Income & Expenses menu and select the invoice you wish to void. Alternatively, you may access the invoice through the relevant tenancy or property.
  2. Once the invoice is open, click on the Void Invoice button.
  3. A confirmation dialog will appear. Click Confirm, Void this invoice to proceed with voiding the invoice, or select Cancel if you change your mind or want to review something before voiding.

Note that when voiding a rent invoice, you will have the option to Ignore as Rent. Select this option to push back the rent periods so this invoice can be recreated. If this option is not selected, you won't be able to recreate a voided rent invoice for the same period; in such cases, a one-off invoice will have to be generated to cover that specific period instead.

[Add a screenshot showing how to navigate to the Void Invoice button]

After confirming the void action, the invoice will be removed from active processing and marked as voided in your system. Remember, this action is irreversible and the invoice will not be recoverable once voided.

Considerations Before Voiding an Invoice

  • Ensure that the invoice you want to void has been approved.
  • If there's any payment applied to the invoice, remember to reverse the receipt first.
  • Have a clear understanding that voiding an invoice is a permanent action and can't be undone.
  • Be aware that once a rent invoice is voided, it's not possible to regenerate an invoice for the same period. A manual one-off invoice would need to be created instead.

 

See these related articles for further assistance:

  • Article 1
  • Article 2

 

 

 

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