Correcting Transactions in a Closed Accounting Period

If a location using the Account Periods feature to close monthly accounting periods, no charges, refunds, payments, or other transactions can be made within a closed period. If you do not want to reopen an accounting period to make changes, all adjustments must be made in an open accounting period (typically the current period or a future one).

These instructions outline how to make common corrections when the accounting period requiring adjustment is closed, or if you prefer to keep all corrections to in a current or future accounting period to maintain a clear transaction trail on the invoice.

Common Invoice Corrections

Use the following instructions to adjust invoices containing items that were posted in an accounting period that has since been closed.

Reversing a Charge

To reverse a charge using a negative charge:

1. In the left Menu Bar, click BILLING > CHARGES/PAYMENTS (or navigate to Accounting > Invoice Log).
2. Locate the invoice containing the charge(s) you need to reverse and click the pencil icon to edit.
3. In the ADD CHARGES section, find the Membership, Rental, Service, etc., that you need to reverse.
   • Note: Alternatively, you can use the CUSTOM option to create a negative charge. 
4. Enter a negative number in the Qty. field to offset the original charge.
5. Optional: Adjust the Use Date and add any necessary Notes.
6. Click ADD CHARGE.

Reversing a Discount

To reverse a discount using a custom charge:

1. In the left Menu Bar, click BILLING > CHARGES/PAYMENTS (or navigate to Accounting > Invoice Log).
2. Locate the invoice containing the discount(s) you need to reverse and click the pencil icon to edit.
3. In the ADD CHARGES section, use the CUSTOM option to create a charge.
4. Enter a positive number to offset the original discount.
5. Optional: Adjust the Use Date and add any necessary Notes.
6. Click ADD CHARGE.

Reversing a Security Deposit

To reverse a security deposit charge using payments and refunds:

1. In the left Menu Bar, click BILLING > CHARGES/PAYMENTS (or navigate to Accounting > Invoice Log).
2. Locate the invoice containing the Security Deposit charge and click the pencil icon to edit.
3. Click ADD A PAYMENTand enter the:
   • Received Date
   • Amount of Security Deposit
   • Notes (optional)
   • For the method of payment, select Other from the dropdown menu.
4. Click RECORD PAYMENT.
5. Return to the CHARGES/PAYMENTS page.
6. Click CREATE NEW PURCHASE.
7. Click ADD A PAYMENTand enter:
   • Received Date
   • Amount
   • Notes (optional)
   • For the the method of payment, select Security Deposit from the dropdown menu.
8. Click RECORD PAYMENT.  
9. On the same invoice, click ADD A REFUNDand enter:
   • Received Date
   • Amount
   • Notes (optional)
   • For the method of refund, select Other from the dropdown menu.
10. Click RECORD REFUND.

By following these steps, corrections can be made without reopening closed accounting periods while maintaining a clear and auditable transaction history.