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Void VS Delete – Advanced Billing Features in BQE CORE

Void versus Delete – Advanced Billing Features in BQE CORE

May 27, 2020 | By Michael Ybarra | 0 Comments

Topics: Billing and Invoicing, BQE CORE

Sometimes in life, things don’t go as planned. If you find yourself in a situation where you need to correct invoices, checks and/or payments, BQE CORE provides you with two advanced billing features: Void or Delete.

#1: Voiding Transactions 

Voiding transactions in BQE CORE is the same as deleting them, except that it saves a copy for your records.

This is especially helpful when the invoice has been delivered to a client, or the payment has posted to the bank, and you would like to keep a copy of the transaction. BQE CORE's advanced billing features even allow these changes to be made in the closed accounting period. Simply void the erroneous transaction and BQE CORE will automatically create a general journal entry to handle the accounting behind the scenes—without any impact to account reporting.

Need even more backup? We can help. Simply attach an image/pdf of the transaction (such as a personal check) to the record in BQE CORE. Look for the Documents tab to upload these files.

#2: Deleting Transactions

Deleting transactions in BQE CORE removes the records from the database permanently.

For example: If you created an incorrect invoice that will never be sent, simply click on action > delete. Done.

What if that invoice has payments applied to it?

BQE CORE's business intelligence has your back here. Paid transactions cannot be voided or deleted unless the associated payment is either marked as void or deleted first. BQE CORE's robust advanced billing features not only provide a much-needed safety net, but they also help increase productivity by decreasing the likelihood you have to fix an error in the first place.

Whether you void or delete a transaction, BQE CORE will also help you keep track of any associated time/expense entries. In the case of an invoice, all time/expense entries will be returned to an unbilled state so you can bill for these again when ready. In the case of Vendor Bills, BQE CORE will prompt you to delete any associated entries if you would simply like to start over fresh.

#3: Voiding/Deleting Transactions in a Closed Accounting Period

Wait. I thought that this article was simply discussing the difference between void and delete. Sometimes even the simplest things can become complicated once they have accounting implications.

Rest assured, BQE CORE allows voiding of transactions related to invoices, checks (including personal checks), and payments even in a closed accounting period. It accomplishes this by creating general journal entries automatically to handle the accounting behind the scenes.

To void an invoice in the closed period:

  1. Open the Invoices screen from the main menu > Billing > Invoices.
  2. In the list view, select the invoices on the grid that you want to void. Click Actions > Void.
  3. Confirm your action by clicking Yes.
  4. Select the date of voiding the invoices.
  5. The voided invoices disappear from the grid.

A pair of general journal entries are created automatically by BQE CORE.

  1. One is created for the transaction being voided with the same date as that of the original transaction.
  2. The other journal entry is created with the accounting sides reversed and with the date as chosen by you.

The same logic is followed when voiding checks or payments.

Note: If the original transaction that you are voiding is not in a closed period, you are prompted to create a general journal entry, provided you have the Accounting subscription package. It follows the same date convention as above.

Take Advantage of BQE CORE's Advanced Billing Features

We understand your need for a data trail when correcting important aspects of your business. We recommend using the void option whenever you may need to refer to, or even provide a copy of, a reversed transaction. This practice will give your firm the firepower it needs to resolve even complex financial discrepancies.

Now, all we need to do is have enough coffee to tear through those emails.

Power of Core
The Author

Michael Ybarra

Michael Ybarra is Trainer at BQE Software. In his role as a trainer/consultant for BQE’s current and future users, Michael is passionate about understanding the crux of their problem in order to provide an accurate solution and building synergistic relationships. Michael is a proud father of three children (who make him smile even on Mondays), and when he isn’t solving user problems, Michael enjoys a little computer programming, community service, and viewing fine art performances.

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