How to create Past Invoice

Overview:

A Past Invoice in N3 Cloud Accounting  is a feature used to record sales transactions dated prior to the system’s cut-off date. It ensures that historical invoices are properly captured without affecting current accounting balances, maintaining the accuracy and integrity of financial records.

Scenario:

You need to record an invoice that occurred before the company’s system cut-off date. Instead of affecting current financial data, the system allows you to tag it as a Past Invoice to maintain proper accounting records.

Procedure:

1. Go to the Chart of Accounts and check the configured cut-off date. The Past Invoice will be based on this date.

2. To create a Past Invoice, navigate to Customer > Invoice, then click Add.

3. Select the appropriate customer and change the invoice date to a date prior to the cut-off date. Once the date is set earlier than the cut-off, the document title will automatically change to Past Invoice.

4. Input all required details such as Terms, Agent, Description, Tax Code, and Balance.

• Under the BIR tab, you may also tick the option if BIR Form 2307 has been received. If received, input the receive date.

• Once all details are complete, click Save.

Application:

This feature is useful for recording historical transactions during system implementation or migration. It ensures that prior-period invoices are properly documented without affecting current accounting balances, helping maintain accurate financial reporting and audit compliance.

System Scope: QNE AI Cloud Accounting / N3 AI Accounting