Skip to main content

Legal

Featured

Questions? We are here to help
Contact us

Tax & Accounting

Featured

Questions? We are here to help
Contact us

Trade & Supply

Featured

Questions? We are here to help
Contact us

Risk & Fraud

News & Media

Books

Developers

Billing

Reverse a previous period invoice with a negative invoice

You can create an invoice with a negative billing amount to reverse billing in a previous month.
The offset occurs in the current month and doesn't affect the invoice or accounts receivable or WIP balance in the period in which the original invoice was created.
If sales or service taxes were included in the original bill, use the same engagement and activity as the original transaction to ensure the correct amount of offsetting negative will calculate.
The negative invoice nets out the original billings and taxes in the same accounts to which the accounts receivable were booked.
If you entered one or more negative WIP transactions to reverse the WIP related with the original invoice, you can bill it for the same negative amount for which the WIP was originally billed. This will reverse the adjustment created by the original invoice.
note
If you are negative billing multiple negative WIP entries, you can select the time & expense entries to bill, right-click, and select
Smart Bill Selected
. Enter a negative billed amount. Select
OK
 to save. The billed amount will be automatically distributed proportionally among the selected transactions.
If there is no negative WIP to reverse, you can enter a negative adjustment entry using these steps.
  1. On the
    Time & Expense
     tab in detail billing, right-click and select
    Add Adjustment Entry
    .
  2. Enter an engagement, project (optional), activity, staff, and the negative amount to bill.
  3. Select
    OK
    .
Practice CS will add an adjustment entry.

This article applies to:

  • PRODUCT: Practice CS
  • Subject: Billing