Reversing a Credit note

[Karen07]

I made a HUGE mistake and posted a credit note (for a farely large amount) in the wrong period . I should have posted it to Aug2012 but instead posted it to Sep. Is there anyway of reversing or cancelling a credit note.

[Neville Bailey]

What accounting software are you using?

Assuming you are using Pastel, I would do the following:

• Process a customer Debit Note in September, with the same details that you had on the Credit Note. This will effectively negate the Credit Note in September;
• Process the Credit Note again in August.

[Who is John Galt?]

There are several ways to correct this depending on the package you are using.

Some packages allow you to post a negative credit note to set off the incorrect credit note. Other packages may have a function to raise a debit note which can be similarly used.

Hope that this helps.

John

[Karen07]

What accounting software are you using?

Assuming you are using Pastel, I would do the following:

• Process a customer Debit Note in September, with the same details that you had on the Credit Note. This will effectively negate the Credit Note in September;
• Process the Credit Note again in August.

Thank you Neville
I am using Pastel, I've just done as you suggested, when I go to "Match open items" should I match both to the Credit/ Debit note to the Invoice? and then generate the correct credit note (in August) and match this one to the invoice too.. (looks a bit messy )