The Void Billings option is used to reverse an unpaid contract billing from the system. AccuBuild will automatically post reversing entries throughout the accounting system and will remove the invoice from the accounts receivable open invoice file (openar.adt). The reversing entries will contain a description of 'REV' along with the original invoice description.
Note: As previously stated, only unpaid contract billings may be voided. If a partial payment has been applied to a billing, then the receipt can be reversed (by entering a negative cash receipt on the invoice) and then the invoice can be voided. If the invoice has been paid in full, the invoice is removed from the open accounts receivable file and cannot be reversed. Instead, a negative contract billing would have to be generated by changing the percentage of completion for each item to the prior billing's percentage complete
To remove a contract billing, enter the invoice number or select the invoice from the drop down list. Enter the date in the Trans Date field with which the reversal entries will be posted throughout the system. Review the invoice information as displayed on the Cancel Existing Job Billings screen and select Void to post the reversing entries.
During the posting process you will be asked if you would like to reinstate the invoice. This means that the system will re-create the voided invoice in the user's batch (contract billing screen) as though it had never been posted. This makes it easier to change one or two line items rather than creating the invoice from scratch. The reinstatement process will also re-assign the same invoice number. The suggested "best practice" for reissuing the invoice is to add a letter to identify it as a separate invoice.
Note: Miscellaneous invoices may not be reversed through this option. Please use the Receivables > Void Misc Invoices option.
