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elogan
Level 1

Why does a VOID invoice appears as revenue on the P

I voided an Invoice that was mistakenly recorded in QB and reclassified to a new account. The invoice shows as $0 amount, but the initial amount of the invoice shows as Revenue for the reclassified account in the P
5 Comments
elogan
Level 1

Why does a VOID invoice appears as revenue on the P

I voided an Invoice that was mistakenly recorded in QB and reclassified to a new account. The invoice shows as $0 amount, but the initial amount of the invoice shows as Revenue for the reclassified account on the Profit and Loss report (both on Accruals and Cash basis). A/R accounts shows as Paid $0. Any help to fix this problem would be appreciated. Thank you!

MaryLurleenM
Moderator

Why does a VOID invoice appears as revenue on the P

Hello there, elogan,

 

Voiding an invoice will keep the invoice number and list it in reports but changes the amounts to zero. This is why you still see the invoice on the accounts with the $0 amount.

 

When you delete a transaction, you completely erase it from your books. It won't appear anywhere on your reports or in your accounts.

 

You can learn more about the difference between the two in this article: Void or delete transactions in QuickBooks Online.

 

Let me know if there's anything else I can do for you.

elogan
Level 1

Why does a VOID invoice appears as revenue on the P

Thank your for your reply, 

MariaSoledadG
QuickBooks Team

Why does a VOID invoice appears as revenue on the P

Voiding an invoice should reflect the amount on your reports, elogan.

 

You'll want to check and make sure that the invoice was voided successfully. To check the transaction, you can follow the steps below:

  1. Click Sales on the left menu.
  2. Go to the Invoices tab and locate the invoice. Usually voided invoices appear at the bottom part of the list with a zero amount. 

And then, go to the Profit and Loss report to check for the transaction by clicking the Total Income amount. 

 

Next, drill down the transactions to check if you'll be able to see the voided invoice and if it is giving a zero amount.

 

For reference, you'll want to record payments in QuickBooks Online

 

Reach out to us if you have any other concerns about invoices. We'll always make sure to help if you need further assistance.

elogan
Level 1

Why does a VOID invoice appears as revenue on the P

Thank you for the step by step troubleshooting directions, MariaSoledadG.

I found what the problem was... The voided invoice showed a zero amount, however there was a reclassification journal entry associated with the invoice, which had been reversed on the date the invoice was voided, i.e. 3 months later. This is why the revenue was still showing in the previous quarter. Changing the date of the reverse reclassification journal entry to the date of the invoice fixed the problem.

Thank you for your help.

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