Anyone involved in business, dealing with customers, must be well aware of what invoices are. For the sake of new bees, the invoices in QuickBooks are the way of tracking payment or amount receivables from your customers, the invoice will let you know how much each customer owes to your business and when is the due date of the payment.
Invoices are generally issued to the customer in case the customers require an extended period of payment. Being said that, there is no requirement of the issue of an invoice when the customer makes immediate payment. Instead, they should be issued a sales receipt – confirming the details of the product and services provided and their corresponding sale price.
An invoice will comprise of the details like description of the cost of product and services provided to the customer, any discount details and also the due date of the payment. Sometimes in business, you will have to delete or void the invoice due to various reasons, like you mistakenly issued an incorrect invoice to the client, or you have entered an incorrect amount in QuickBooks. If this happens, you will have two options to deal with the situation, you can either delete or void the invoice. We will look into both the options and their impact on the invoices in the below section.
Steps for Deleting or Voiding an Invoice in QuickBooks Online
Follow the mention steps for Deleting the invoice from QuickBooks Online and Voiding the invoice from QuickBooks Online:
Deleting the Invoice from QuickBooks Online
If you choose the option of deleting the invoice from QuickBooks Online, you should be well aware that once you delete an invoice from QuickBooks Online, there will remain no trace of it in the system. You should choose this option if you have not already issued the invoice to the customer. You can follow the below steps to delete the invoice from QuickBooks Online:
Step 1. First of all, click open the QuickBooks Online on your system, and log in with your credentials.
Step 2. Now search Sales from the left menu and click on it and then go to the invoices tab.
Step 3. In this step, you need to select the invoice that you want to delete. After selecting the invoice go to the Action column.
Step 4. Now click on the drop-down arrow under the action column and choose to Delete and click Yes to confirm the process.
Voiding the Invoice from QuickBooks Online
If you have already issued the invoice to your customer, then voiding the invoice would be a better option for you. When you choose to void the invoice, the amount from the invoice would be cleared from the system but most of the other details like invoice number, products, and services remain, which can help you in tracking the details afterward, if you wish to do the same.
Step 1. Once you have opened the QuickBooks Online on your system, open the Sales tab from the left menu.
Step 2. Now click open the invoices tab and select the invoice you would want to void in QBO.
Step 3. In this step, click Void from the Action drop-down menu. Once you void the invoice, the amount will get cleared and you need to save and close to finalize the process.
Now since we are well versed with the process of deleting and voiding the invoices from QuickBooks, let us look into some FAQs for further clarity, you can also refer them if you need help around the related topics.
How can I change the status of an Invoice from paid to unpaid in QuickBooks Online?
For this purpose, first of all, click Invoicing from the left menu and choose invoices. Now click on View/edit to open the invoiced transaction. Click 1 payment link and date hyperlink under the payment status. Now click the more tab and choose to delete. After that click on Yes to confirm the process.
Can you detail our the Process step to Correct the Customer Payment that has been Deposited or Reconciled?
First, of all create a duplicate correct payment for the customer by visiting the customer menu > Receive payments. After that, you need to delete the original payment and recreate the payment line in reconciled deposit. You can do this by clicking the Make deposits under the Banking menu. After that delete the original payment.
What is the Process to un apply a Bill in QuickBooks Online?
First of all, press Ctrl +H to open transaction history in QuickBooks and double-click the invoice you want to un apply credit from, and click on the ‘Apply Credit’. Now, clear the selection for credit on the previously apply credit window and click Done on Apply credit window. Now go back to invoice and press save and close.
Can you Please Advise the Steps to Delete a Vendor Credit in QuickBooks?
First of all, click on Vendors > vendor list > click on the vendor who provided you credit. Now open the vendor credit in the transaction list. Now when the vendor credit page opens up, click on More at the bottom of the page and click delete.
Is there any way to correct the incorrect Banking Deposit in QuickBooks?
Yes, you can do so by first clicking on reports from the top menu and select Customers and receivables. Now choose transaction list by customer. Go to the filter tab under customize report button, search for transaction types, choose invoice, payment, and deposit. Now click the OK button to confirm the process.
Can you let me know the Process steps for Entering the Vendor Credit in QuickBooks Online?
First, you need to select Pay Bills from the Vendors menu. Now check the deposit that matches the vendor check amount. Now select set credits to apply the bill credit that you have created and click Done. After that select ‘Pay Bill selected’ and click on Done once again.