A credit note (a.k.a. Adjustment Note) is a document, usually for returns of goods or adjustments to past invoices. Whereas the cancel transaction process in MoneyWorks is for reversing a wrong entry.

Posting is a fraud control feature in MoneyWorks to prevent editing once the account has finalised. You cannot modify the transaction once posted. However, you can use the Cancel Transaction feature (from the Command menu) to correct the error.

MoneyWorks accounting system leaves an audit trail in the ledger, showing both the wrong and cancelled sales invoice contra against each other; this prevents intentional manipulation of financial data.

Software: MoneyWorks #accounting software Both “Cancel Transaction” and “Write Off” of an invoice generates a Credit Note to knock off an amount owing. So, what’s the different between the two? When a mistake made in a sales invoice or a return of goods and services you can use a cancel transaction (under the Command menu […]