Can I cancel an invoice from the prior year?

I'll help you clear this transaction in QuickBooks Online, Will.

You can record a reverse entry to void a transaction in another period instead of removing it. The transaction is still on file, so you can easily restore it.

Before you void the invoice, you can print a transaction journal for reference. Then, create a reversing Journal entry.

Here's how:

1. Go to + New.
2. Click Journal Entry.
3. Enter the date in the journal to show the transaction as reversed.
4. Enter the accounts in reverse based on the printed transaction journal.
5. Hit Save.

I'd also suggest contacting your accountant before performing these steps. This will help us make sure your books are accurate.

This article will also guide you through how to group multiple payments into a single record or track a partial payment: Record invoice payments in QuickBooks Online.

Please return and keep us posted on your progress in voiding your invoice from the previous year. I'm determined to ensure your books are accurate.