Software: MoneyWorks accounting solution
MoneyWorks creates a reversed entry if you try to ‘cancel’ a posted transaction. For example, you have wrongly recorded a sales invoice and posted it accidentally. MoneyWorks created a reversed sales invoice instead of removing it from the sales invoice list once you ‘cancelled’. It leaves an audit trail in the ledger, showing both the positive and negative sales invoice contra against each other; this prevents intentional manipulation of financial data. MoneyWorks is a better accounting system for small businesses in preventing accounting fraud.
You can change the colour (such as red colour) of the cancelled transaction to reduce confusion.
You can also temporarily hide the cancelled transactions (in Red) from showing (it still in the ledger) by adding a filter to the transaction list. Add the expression to the calculation box of the filter:
Colour <> “Red”
The ‘Colour’ is referring to the colour field of the transaction and ‘< >’ is ‘Not Equal to’.
Then, turn on the filter as and when you need to omit cancelled transaction from the list.
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