How to Cancel Vouchers in FalconPro Real Estate Software: Complete Guide
Introduction
Managing financial transactions accurately is essential for real estate businesses using FalconPro Real Estate Software. One critical aspect is the ability to cancel vouchers-such as receipt vouchers, payment vouchers, contract vouchers, and journal vouchers-while maintaining a clear audit trail and compliance with accounting standards. This guide explains, step-by-step, how to safely cancel vouchers in FalconPro Real Estate Software, including handling posted and unposted vouchers, using system utilities, and best practices for audit and reporting.
Understanding Voucher Types in FalconPro Real Estate Software
FalconPro Real Estate Software manages several types of vouchers, each with specific roles:
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Receipt Voucher: Issued when receiving payments from clients or tenants.
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Payment Voucher: Used to record payments made to suppliers or service providers.
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Contract Voucher: Generated for fees or dues related to leasing contracts.
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Journal Voucher: Used for manual accounting entries and adjustments.
Each voucher type is linked to specific transactions and has its own cancellation process.
Step-by-Step: Cancelling Vouchers in FalconPro Real Estate Software
Cancelling Receipt Vouchers
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Locate the Receipt Voucher:
Go to Accounts > Receipt Vouchers and find the voucher you want to cancel (e.g., voucher number 772). -
Check Journal Voucher (GV) Status:
Open the related GV. If the GV is unposted (no post date), you can proceed. If it’s posted, you must unpost it first. -
Delete the Receipt Voucher:
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Click Delete on the receipt voucher.
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The system will prompt you to confirm and ask if you want to change the default cancellation date (default is today).
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You may select a different date to match the original transaction date for accurate reversal.
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Reverse Voucher Creation:
Upon cancellation, FalconPro automatically creates a reverse voucher. This ensures the original transaction is negated in your accounts, maintaining financial integrity. -
Period Management:
Ensure you are in the correct accounting period. If not, extend or open the appropriate period before cancelling.
Cancelling Payment, Contract, and Journal Vouchers
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Payment Vouchers:
Follow the same steps as for receipt vouchers. Ensure the related GV is unposted before attempting cancellation. -
Contract Vouchers:
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Go to the contract vouchers section, locate the voucher, and click Cancel.
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If the voucher is posted, unpost the related GV first.
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Cancelling a contract voucher typically does not create a reverse entry, as these are often time-sensitive and reversed at the point of cancellation.
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Journal Vouchers:
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Manual journal vouchers can be cancelled directly, which creates a reverse entry by default.
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If you wish to cancel without creating a reverse, use the utility tool (see below).
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Using the Utility Tool for Advanced Cancellation
For scenarios where you need to cancel a voucher without creating a reverse entry, or to edit cancelled vouchers:
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Access the Utility:
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Hold the Control key and double-click the voucher.
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A code will be generated; send this code to FalconPro support via WhatsApp or email to receive a password.
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Edit or Cancel the Voucher:
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Enter the password, add detailed remarks (explaining the reason for cancellation), and proceed.
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This process is logged for audit purposes and should only be used by authorized personnel.
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Audit Responsibility:
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All actions using the utility are tracked under your user ID and date, ensuring accountability for any data changes.
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Best Practices for Cancelling Vouchers
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Always Unpost Before Cancelling:
Only unposted vouchers can be cancelled. For posted vouchers, always unpost first to avoid errors. -
Maintain Detailed Remarks:
When cancelling, provide clear reasons and remarks for future reference and audit compliance. -
Audit Trail:
Use the utility responsibly, as all changes are tracked and you are accountable for the data integrity. -
Period Management:
Ensure all cancellations occur within the correct accounting period to maintain accurate financial statements. -
Reverse Entries:
Understand when the system creates automatic reverse entries and when it does not (e.g., contract vouchers).
Conclusion
Cancelling vouchers in FalconPro Real Estate Software is a structured process designed to ensure financial accuracy and compliance. By following the outlined steps-checking GV status, managing periods, using the utility tool responsibly, and maintaining clear audit trails-you can confidently manage cancellations without risking data integrity. Always consult your company’s accounting policies and involve authorized personnel when using advanced features.
Frequently Asked Questions (FAQ)
Q1: Can I cancel a voucher if it is already posted?
A: No, you must first unpost the voucher in the journal before you can cancel it.
Q2: What happens when I cancel a receipt or payment voucher?
A: The system automatically creates a reverse voucher to negate the original transaction, ensuring your accounts remain accurate.
Q3: How do I cancel a contract voucher?
A: Locate the contract voucher, unpost the related GV if necessary, and then cancel. No reverse entry is created for contract vouchers.
Q4: What is the utility tool and when should I use it?
A: The utility tool allows advanced cancellation or editing of vouchers without creating reverse entries. It should be used only by authorized users and with clear audit remarks.
Q5: What if my accounting period is closed?
A: You must extend or open the relevant accounting period before performing cancellations to ensure correct transaction dating.
Q6: Is there a record of who cancelled a voucher?
A: Yes, all voucher cancellations and utility tool actions are logged under the user’s ID and date for audit purposes.
Q7: Can I cancel a journal voucher without creating a reverse entry?
A: Yes, use the utility tool to cancel a journal voucher without generating a reverse entry.