Discard Equation Invoice For Free

Here are the steps for invoice processing: Capture, general ledger (GL) code, and match supporting documents such as a purchase order and/or delivery receipt. Send invoices to authorized approvers to approve or reject invoices. Authorize and submit invoices for payment in a financial system.

Open invoices should be directly deleted unless they are needed for a later date. By deleting the invoice, users will be permanently removing it from their company file. On the other hand, voiding an invoice cancels a particular payment or invoice.

A customer's address may be typed wrongly, a discount may not have been applied, or the items themselves may be incorrect. Once sent, you can no longer edit the invoice directly, and a credit note must be issued instead.

You can reduce invoice errors by keeping the below information in mind: Third-party auditing. Introducing a third party audit and analytics specialist will ensure invoices from vendors are 100% accurate.Standard invoice. Using one standard invoice for all vendors will reduce confusion.Invest in the right technology.

If you have already issued the invoice but the customer has not paid, send a friendly email or make a polite phone call explaining the mistake, and then issue a new invoice. If the customer has already paid, make a correction adjustment on a future invoice, or issue another invoice or credit correcting the mistake.

You can check the status of that invoice. It will show 'Void'. You can also delete an invoice when it has been void. The list of void invoices can be filtered.

If you want to cancel an invoice, you can void it. Voiding an invoice cancels the invoice without deleting it, thereby preserving historical information for any future audits. When you void an invoice, any settled payments will be removed, and the corresponding payment will be unsettled.