Hello,
Can someone advise how to correct a previous year's progress invoice with retention held, the incorrect change orders were billed in the previous year and thus incorrect retention held . I can't change the progress invoice and make a new bill because it won't allow a negative billing so I am not sure how to fix resolve and correct this billing.
I need to remove part of the incorrect retention held from retention receivables and I also need to bill part of the retention held as well as remove incorrect amounts billed for change orders. I am using quickbooks desktop pro. It gets a bit complex because the invoice was in a previous year and my correction is in a new year and I can't bill a negative invoice from the estimate if I make record credits on the estimate.
specifically I need to essentially remove - credit incorrect invoicing on 3rd invoice for change order amount of $10,084.23 and thus remove 10% retention on that amount of $1,008.42 plus remove retention held on prior invoice #2 to that for $2,147.50 and then bill the correct retention amount of $6,650.00 from the 1st invoice.
Any assistance would be much appreciated.
Can someone advise how to correct a previous year's progress invoice with retention held, the incorrect change orders were billed in the previous year and thus incorrect retention held . I can't change the progress invoice and make a new bill because it won't allow a negative billing so I am not sure how to fix resolve and correct this billing.
I need to remove part of the incorrect retention held from retention receivables and I also need to bill part of the retention held as well as remove incorrect amounts billed for change orders. I am using quickbooks desktop pro. It gets a bit complex because the invoice was in a previous year and my correction is in a new year and I can't bill a negative invoice from the estimate if I make record credits on the estimate.
specifically I need to essentially remove - credit incorrect invoicing on 3rd invoice for change order amount of $10,084.23 and thus remove 10% retention on that amount of $1,008.42 plus remove retention held on prior invoice #2 to that for $2,147.50 and then bill the correct retention amount of $6,650.00 from the 1st invoice.
Any assistance would be much appreciated.