Transactions in closed years cannot be modified or deleted- To clear an old transaction from an aging report, apply a reversing transaction against it
- Date the reversing transaction in the first open period
Note: If the transaction that needs to be removed is in a closed year but does not have a reference assigned, see How do I assign invoice number to an invoice from a closed year? For accounts receivable transactions: - If the amount on the aging report is positive, the transaction is an invoice or refund; apply a credit memo against it. See How to Enter a Customer Credit Memo and How to apply a credit memo to an invoice
Note: For refunds, create a credit memo in the same amount, then apply them against each other on the Receive Money window - If the amount is negative, the transaction is a pre-payment, credit memo, or overpayment; create an invoice for the same amount(s); Click Pay Now and apply the credit(s) against the invoice. See How to create a sales invoice
For accounts payable transactions: - If the amount on the aging report is positive, the transaction is an invoice or refund; apply a vendor credit memo against it. See How to enter and apply a Vendor Credit Memo
Note: For refunds, create a credit memo in the same amount, then apply them against each other on the Payments window - If the amount is negative, the transaction is a pre-payment, overpayment, or vendor credit memo; create an invoice for the same amount(s) and apply the credit(s) against the invoice. If the amount is a payment that was made twice, you can void the second overpayment check in lieu of creating a second invoice for that amount. See How to create Purchase Invoice
- Paid items will continue to show on the aging reports when the report is run for a date prior to the reversing transaction.
Note: The above transactions will make an adjustment to your general ledger. If this is not what you want, you will need to make an adjusting journal entry to back out the transaction entered.
Did you know that Sage Payment Center is embedded in your Sage 50 accounting software and provides the tools you need to simplify your business and get paid faster? To learn more about Sage Payment Center watch this short video or start accepting credit cards today by clicking the Accept Credit Card button on the lower left side of your Sage 50 software!
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