Megaventory Blog - Online Inventory Management Software, Order fulfillment and Control System
This is the company blog for megaventory, an online software that helps small businesses that buy, sell and manufacture physical products to manage sales, purchasing, manufacturing and inventory. We blog about new features and updates but also about enterprise software, small businesses, cloud computing and the industry in general.

Tuesday, August 25, 2020

Should Backdating Documents Happen?

In Megaventory, we take keeping track of every movement of the inventory very seriously. We believe that without this, an inventory and supply chain management system would lack value. However, we know that there are situations in which the original document is not valid or the dates are off. This is when backdating comes in handy, a feature that gives you flexibility while not losing track of the processes and documents. 

You may be asking yourself, but what is backdating? It is just dating a document with an earlier date than its actual date of execution. This might not be allowed, or not even be legal, especially when it comes to legal documents such as contracts. However, in day-to-day business scenarios, there are many cases when backdating is necessary.

These are some common situations in which you might find it helpful:

  • When among all documents required when recording sales, purchases, inventories, etc. an invoice ends up not being issued without any dishonesty intended. 

  • When for instance, a vendor supplies a product under a contract and later discovers that the customer didn’t sign it. In this case, a contract with the date of the supply is more valid than inserting the actual date of execution.

  • When the original document has been lost or destroyed and a replacement of the missing one is required. In this case, both parties might agree on the backdating of the document.

  • When you are first starting to use Megaventory, and you want to record some bills and invoices on their real date.

What Megaventory offers is a backdating feature that allows for any document that is being created to have its date set in the past (at a maximum of 180 days or 6 months). Furthermore, an already issued document can be canceled and a new one put into its place, on a date prior to the issue date of the latter. For tracking purposes, both the canceled document and the newly issued one get a document number.