How to create Past Bills

Overview:

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

Scenario:

You need to record a bill 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 Bill 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 Bill, navigate to Account Payable >  Bills, then click Add.

3. Select the appropriate supplier and change the bill 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 Bill.

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 issued. If issued, input the issued 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 bills 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