19 Nov 2017
QuickBooks, as a digital accounting software, simplifies the task of creating, sending recording and voiding invoices. Yes, you heard it Right! All versions of this accounting software offered by Intuit such as QuickBooks Pro/ Premier/ Enterprise, QB Mac and QB online support invoicing. Hence, you can create and send invoices from any platform. With the arrival of QB app for both Android and iOS, things are looking even better.
Invoices are used as documents that contain information about particular transactions. Large organizations usually create invoices on a monthly basis for sending it to their clients/ customers. This isn’t an option for small businesses or retailers. They usually need to create invoices on the transaction to transaction basis. Hence, many a times inaccuracies may occur that might cause a problem with the data. Hence, to simplify things, QuickBooks enables users to edit as well as void a particular invoice in order to ensure accuracy.
The difference between void and delete is something that QB users need to consider. Both these actions will make a difference in the way your books are organized and rendered inside QB. Open invoices should be directly deleted unless they are needed for a later date. By deleting the invoice, users will be permanently removing it from their company file. On the other hand, Void cancels a particular payment or invoice. For stopping a particular payment from being realized by QB, select void. For removing the receipt from QB, select delete.
If you want to perform both of these actions then first void the transaction and then hit delete. This will stop the payment process as well as remove the receipt from your records. QBO and QB hosting users will be able to recover invoices after deleting them but this will not be a possibility for QB desktop or QB Mac users. Hence, make sure to backup your data before making any substantial changes.
Also, we recommend that you do not void or delete an invoice for financial years for which the books have already been closed. This can create an imbalance in the data. Users should at least make sure that income and expense accounts show equal numbers. You can also unvoid a transaction in QuickBooks but more on that later.
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