How to Edit Paid Invoices

Invoices in FINSYNC can only be edited in an unpaid state. However, there is a simple solution that will enable you to edit paid invoices, this process is detailed below:

Common Reasons for Editing a Paid Invoice: 

  • Description field needs to be updated for reporting purposes (something like a company name change). 
  • Price needs to be lowered (or raised) on an invoice that is allowing partial payments to be submitted. 
  • Due Date needs to be changed from the original dates being entered incorrectly at time of creation. 

Invoices that are either manually designated as paid or are done so automatically through FINSYNC (meaning a customer has submitted a payment) will now have a Matched status. In FINSYNC, means that either a bill or an invoice has been matched to a corresponding transaction in your bank account.

The steps to edit a PAID invoice are to: temporarily un-match the deposit transaction, which changes the invoice status from paid to unpaid, and then to make your desired edits. Lastly you need to change the status back to Matched.

Example: You invoice a client and enable ACH as a payment option. The client receives the invoice in their inbox and pays via ACH. FINSYNC will then post the deposit for that ACH payment into your bank account ledger, doing so will automatically match it to the invoice that the client just paid.

However, after reviewing your remittance details, you notice that you put the wrong service description/type on the invoice. The ability to edit the invoice has been removed and now you will need to follow the steps outlined below:

 Watch this brief video or follow the steps outlined below to edit a paid invoice:

 

1. Click the Banking tab and then locate the transaction that corresponds to the paid invoice that needs to be changed. Click on the transaction to display the details.

2. Click the red "X" to Un-Match that transaction from the invoice.

3. Hover over  Payments in the top navigation bar and click Income. You'll be on the Receivables page and you'll now see a due date indicating the invoice in question is Unpaid. When clicking on the details of the invoice, the status will also display as Unpaid.

4. Hover over the options to the right of the invoice (Ellipses or three dots) and click Edit.

5. The invoice can now be updated as needed.

6. Once changes are complete, scroll to the bottom and click Save to save the changes.

The invoice is now updated but still with a status of Unpaid so it needs to be matched back to the deposit transaction.

7. Click on the Banking tab again and find the transaction that you previously unmatched. Hover over the options to the right of the transaction (Ellipses or three dots) and click Apply to Receivable.

 

8. Locate the invoice that you edited to match. The search option can be used to locate by the customer name or invoice number. 

9. Once located, click the check box to the left of the row and then click the green Match button on the upper-right.

10. To verify you have completed the process, click on the Payments tab and then click Invoices on the left menu.  The search option can be used to locate the invoice by the customer name or invoice number. The invoice will now appear with a status of Matched

The update to the paid invoice is complete!