FAQs

How do I correct an invoice which was accidentally postdated, paid prior to the invoice date and the check has been cleared in the bank reconciliation?

That is an unfortunate sequence of events.  You cannot backtrack by canceling the check because it has already cleared the bank.  However, you can remedy the problem by following these steps:

1. Enter a credit invoice on the date of the postdated invoice.  This step will effectively reverse the invoice from an accounting point of view
2. Re-enter the invoice on the correct date.  This step will record the expense on the correct date
3. Process the two invoices created above.  This will result in a zero-dollar check and both invoices will be paid.  There is no need to print the check and assign it a check number.  You can clear the check when you do your next bank reconciliation