Since IINSIGHT release v6.3.3. it is possible to either Delete, Void or Reverse certain transaction account items (invoices, adjustments, payments and refunds) on a case in the Case List > Accounts tab, with each of these resulting in a slightly different outcome for specific purposes:
This article will cover the following on these different functions:
Deleting Transactions
The purpose of Deleting a transaction account item is to remove the record completely from the case. No record of this will remain in the Accounts table (however there will be a record of this action in the Case Log for the case audit trail).
This can be useful if the transaction has yet to be sent to the client or reconciled within any external book keeping software and you wish to edit the data and then re-raise using the same Transaction ID number, or just remove completely as it was created in error.
To Delete an account item a user just needs to select the item so it is highlighted in blue in the Case List > Accounts table and click the Delete button:
Once this action is confirmed the record will be deleted fully from the case.
In certain instances a transaction item will not be allowed to be deleted. Some examples of these are:
If the transaction is within a Financial Lock period
If the transaction has other transactions related to it (e.g. and Invoice which is already paid).
Voiding Transactions:
IMPORTANT NOTE:
For the "Void" function to be available you must be using the MS Office based financial templates. More information on these can be found in the article Managing Financial Templates. |
The purpose of Voiding a transaction is to remove any link and or credit / debit value of the record from IINSIGHT however still maintain a record of this so that the original document can still be referenced and viewed and the Transaction ID not be re-used.
When Voiding a transaction any financial value associated will be zeroed, and if the transaction was an invoice any linked costs will be released for editing / re-invoicing.
An example of when this may be useful is if a transaction has been raised and send to a client in error, but not yet reconciled in any external book keeping software so any associated revenue is not required to be maintained. In this instance the transaction could be voided, and a copy of the now voided transaction sent to the client to clarify nothing is owed / credited and to ignore the document previously sent.
To Void an account item a user just needs to select the item so it is highlighted in blue in the Case List > Accounts table and click the Void button:
Once this action is confirmed the record in the table will show as "Voided" with red icon, any amount / balance will be set to "0", and the transaction document if printed or emailed will be clearly marked with a "VOIDED" stamp:
In certain instances a transaction item will not be allowed to be voided. Some examples of these are:
If the transaction is within a Financial Lock period
If the transaction has other transactions related to it (e.g. and Invoice which is already paid).
Reversing an Invoice
IMPORTANT NOTE:
For the "Reverse" function to be available you must be using the MS Office based financial templates. More information on these can be found in the article Managing Financial Templates. |
Reversals can only be performed on Invoice transactions and are not available to be performed on payments, adjustments nor refunds.
The purpose of Reversing a invoice is to is to remove any link to costs and credit the value of the invoice on the case whilst maintaining a record of this so that the original document can still be referenced and viewed and the Transaction ID not be re-used.
When Reversing an invoice any financial value associated will be maintained, a Reversal Adjustment applied automatically to the case for the full value of the original invoice, and any linked costs released for editing / re-invoicing.
An example of when this may be useful is if an invoice has been raised and reconciled in an external book keeping software (either internally or by your client), so any associated revenue is required to be maintained, however an error has been noticed in some of the activities / items on the invoice and these must be corrected (and it is not suitable to just issue a small adjustment on the invoice as a whole). In this instance the invoice could be Reversed, and a copy of the Reversal Adjustment sent to the client as a "Credit Note" and reconciled in any external bookkeeping software, the activities and items corrected and then a new invoice raised with them included.
To Reverse an invoice a user just needs to select the invoice so it is highlighted in blue in the Case List > Accounts table and click the Reverse button:
Once this action is confirmed the record in the table will show as "Reversed" with red icon, a Reversal Adjustment automatically created on the case (with its own unique icon), and the invoice document if printed or emailed will be clearly marked with a "REVERSED" stamp:
In certain instances an invoice will not be allowed to be reversed. Some examples of these are:
If the invoice has other transactions related to it (e.g. an Invoice which is already paid).
The Reversal is trying to be applied within a Financial Lock period.
Delete, Void and Reverse User Permissions
The Delete, Void and Reverse functions can be individually controlled at the user level in the Admin > User Modify permissions outlined below:
"Can void invoice" if enabled will allow a user to "Void" any transaction types.
"Can reverse invoice" if enabled will allow a user to "Reverse" invoice transactions.
"Can delete invoice" if enabled will allow a user to "Delete" any transaction types.