How to Void an Invoice or Bill
An invoice or bill may be voided from the preview or edit page of the transaction by selecting the red Void button. Voiding either transaction type won't remove the transaction since this is not considered best practice - leaving an audit trail of transaction history will be helpful for you and your inDinero finance team when reviewing transaction history.
Void Date and Reason
Immediately upon clicking Void, you'll be prompted to select a void date and select a predefined reason for voiding, Bad Debt and Other, or Other to write in a custom reason.
It's important for accounting purposes for inDinero to understand why an invoice is being voided. For example, if you're voiding an invoice because your client will not pay- your Accountant needs to make an adjusting entry to Bad Debt which can be a tax write-off you don't want to miss!
Void Date Restrictions
- The void date cannot be a date prior to the transaction date
- The void date cannot be in a locked period
If you need to void an invoice in a locked period, just reach out to your inDinero team via email, chat or phone and we can assist.
Where to Find a Void Reason
The void reason can be viewed on the transaction preview and activity log.
Voided Transactions in the List Pages
Your Voided Invoices & Bills will still appear in the transactions lists with a Void status under Bills>Bills List or Invoices>Invoice List.
Your activity log will retain all history of voided transactions, making it easy for the team to identify!
If your accounting method has been set to Accrual mode, a reversing journal entry will appear in the general ledger as of the void date. The transaction will not be removed from the AR or AP Aging until the void date, ensuring the ledger and sub-ledger stay in sync. Additionally, download a CSV Summary to include Void Reasons column.
Reversing Entry for a Bill
Reversing Entry for an Invoice