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MYOB – Can I delete a sale in previous tax year that is incorrect?

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MYOB Quickbooks Bookkeeping delete sale in previous year

Delete a Sale in MYOB

A client had a sale dated 24 june 11 that was not required. Whether to delete a sale in previous tax year that is incorrect depends on whether the accountant has/is working on that year end.

  • If the accountant doesn’t have the accounts, then it is OK to delete
  • If the accountant has the accounts for the year end, DON’T delete the sale – don’t change ANYTHING prior to 30 june, as the accounts will not be the same as the accountant is using! – reverse the sale from 1 july as follows –
  1. create another invoice dated 1/7/2011 for the same amount but with a negative, even if just a Service invoice (from Layout at bottom of invoice) – then
  2. open the Sales Register >Returns & Credits, highlight the sale just created >Apply to Sale (at the bottom of the screen),
  3. enter date as 1/7/2011 in the Settle Returns & Credits screen, ensure the amount is applied to the invoice 24/6/11 so they will cancel each other
  4. >Record
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Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, and Self-Managed Super Funds (SMSF) Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, Free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

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