Everyday tasks - Working with Transactions

Deleting transactions

After you record a transaction in MYOB AccountEdge, you may want to change the information you've entered on the transaction or you may want to completely remove the transaction from your accounting records.

If your accountant requires that you maintain an audit trail of all your accounting entries, you should reverse a transaction rather than change or delete it.

If, on the other hand, your account has advised you to make necessary changes, you can change and delete transactions. In order to change and delete transactions, your transactions must be changeable. That is, the security preference "Transactions CAN'T be Changed; They Must be Reversed" should be unmarked. (What are changeable and unchangeable transactions?)

When you delete a transaction, it is permanently removed from your company file.

Note: Criteria for deleting transactions

Some transactions must meet certain criteria before they can be deleted.

Sales and Purchases You can only delete a sale or purchase that doesn't have a payment applied to it. If you've recorded a customer payment for a sale or a vendor payment for a purchase, you must first delete the payment before you can delete the sale/purchase.

Also, if you applied a customer credit to a sale, the customer credit must be deleted before you can delete the sale.

In the same manner, if you applied a vendor debit to a purchase, the vendor debit must be deleted before you can delete the purchase.

Receipts grouped in the Undeposited Funds account If you want to delete an individual receipt that was included in a bank deposit transaction, you must first delete the bank deposit. When you delete a bank deposit transaction, all receipts included in the bank deposit are returned to the Prepare a Bank Deposit window. You can then delete the receipt from this window.

Reconciled transactions Keep in mind that if you delete a reconciled transaction, your bank reconciliation will be out of balance.

Step by step
To delete a transaction