While you have been able to void an existing transaction for some time, this release of Paladin POS contains additional reporting capabilities specific to voids. Now, should you choose to review a list of invoices that have been voided, you will be presented with two additional text lines detailing the employee ID that performed the void and the dollar amount of the original transaction. Also the content of the original invoice is now displayed, allowing you to better understand the event. All quantities, costs, retails and extensions are still zero.
To generate a list of voided transactions select Alt 5 Reports – Sales Analysis – What I Need To Know – Transaction Report. Select the range of dates you wish reported, set Keyword Search to “NoteField” and enter the search phrase of “Voided”. Press F12 to run the report.
IMPORTANT: There are several operational limitations related to the VOID function that business owners must understand if they choose to utilize this feature.
- Transaction report range of dates cover when the invoice was written, not when it was voided. An employee with admin privileges could void an invoice today from a year ago and it would only report when looking for the original invoice.
- Voiding an invoice with a customer account number identified will prevent the voided transaction from being found using a search by account number.
- Voiding invoices for any period already balanced and reported to your general ledger will result in an out of balance situation between your general ledger and POS.
- Voiding a transaction paid by CHARGE (or a Payment on Account) will remove the transaction from your accounts receivable system and will cause your daily a/r reconciliation to your general ledger to be out of balance (if void is for a prior day).
- Voiding a transaction paid by Credit Card WILL NOT issue a refund or reversal of the credit card charge to the customer.
Accounting best practices suggests that stores write a reversal invoice, on today’s date, to offset or reverse an unwanted invoice recorded in Paladin POS on an earlier date rather than voiding the original invoice.
If you have questions or suggestions about this information, contact firstname.lastname@example.org.