UK Credit Note -v- Voiding an invoice


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I'm looking at a clients accounting software (I'm not an accountant) - they seem to have marked invoices which were never paid and had no transactions with a credit note but this marks the invoices as paid and therefore shows within the reporting on revenue. I have a feeling they should have been voided to prevent them appearing in reporting and for VAT reporting - is this right?
 
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kirby

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if the credit memo acctg was set up correctly, a credit memo should debit (reduce) income and credit (reduce) accounts receivable. But who knows if that logic is what is bring used at your client’s location. Discuss your concern with the accountants and let them track this down.
 

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