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Re: COGS incorrect when invoices are reposted

My point is that "voiding" a transaction really ammounts to reversing
it properly according to accounting rules.  I think we are talking the
same thing but using different terms :-)

Right, you don't want to alter the transaction after it has been
posted except to flag it for accountant review if necessary.
Eventually I want to really lock this down, but it is best to get good
feedback about why people insist on doing things the wrong way so that
we can make this as smooth as possible.

Best Wishes,
Chris Travers

On 9/21/06, roland porth <..hidden..> wrote:
Chris Travers wrote:
> How would you deal with an invoice which had an error on it?
> Note that when we say voiding an invoice, this means posting reversing
> transactions and flagging the invoice as voided for reporting
> purposes.
> Best Wishes,
> Chris Travers
Maybe this has already been answered.  Are there published  GAAP or FASB
Standards to which LedgerSMB should conform regarding audit trails,
transaction voiding and transaction editing??  Being
"standards-compliant"would be a good marketing point relative to
QuickBooks, et al.  Which countries should be considered?

> On 9/21/06, John Hasler <..hidden..> wrote:
>> Alejandro writes:
>>> I am in favor of defining voiding documents and creating new ones.
>> I'm not convinced that it should be possible to alter _or_ void posted
>> invoices.
>> --

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