can i clear a credit note by a fictional invoice or should i creat a reverse entry?

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can i clear a credit note by a fictional invoice or should i creat a reverse entry?

2007-03-02 11:47:57 · 3 answers · asked by oussama n 1 in Business & Finance ➔ Credit

3 answers

I'm not clear about what you are asking. I am certain that a 'fictional invoice' is considered fraud. A reversing entry sounds correct. It has been about a decade since I took accounting.

2007-03-02 13:03:15 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

Reverse entry works best

2007-03-02 11:58:25 · answer #2 · answered by Akbar B 6 · 0⤊ 0⤋

We need more info. If a customer has been carrying a credit on the books for an excess period, most companies would debit the account and mail them a check.

2007-03-02 11:59:07 · answer #3 · answered by yfrkim 2 · 0⤊ 0⤋