Invalidating history transactions

As a financial record, the Accounts module is designed to follow Generally Accepted Accounting Principals (GAAP), which require you to correct posting errors using adjustments. To comply with GAAP, changes to transactions are locked out after you move them to history when you close out a month. That being the case, you cannot edit or delete history transactions. Instead, you must invalidate the procedure and add an adjustment with an explanatory note.

To invalidate a procedure

1.   In the Accounts toolbar, click Include History Transactions, and then double-click the history procedure that you want to invalidate.

The Validate/Invalidate Procedure in History dialog box appears.

2.   Select Invalidate Procedure.

A plus sign (+) appears in the line in the transaction log’s history denoting that the procedure was invalidated.

3.   Click OK.

4.   Enter a credit adjustment to credit the account for the amount you charged for the procedure.

To learn more, click Entering procedures.

5.   Re-add the correct procedure if necessary, changing the date to the original date.