Voiding a check in Peachtree is fairly easy: Open the Void Checks screen, select a cash account, highlight the check you want to void, set the void date, and click the void button.\u00a0 But this common task is the source of a surprising number of support calls, either from people who aren’t sure how to do it, or from seemingly unrelated problems that get traced back to an improperly voided check.<\/p>\n
Let’s start by reviewing what Peachtree does when you void a check.\u00a0 First, it creates a negative payment transaction on the date you specify, using the same check number with “V” added to the end of it.\u00a0 Next, it marks both the check and the void payment as cleared on the bank reconciliation.\u00a0 Finally, it flags the original check so that the word VOID will be displayed in the payments window.\u00a0 The result of this negative payment, in addition to adding the check amount back into your cash balance, is to unpay any invoices or reduce GL accounts that the original check paid.<\/p>\n
Regardless of why you need to void the check, the process starts in one of two ways.<\/p>\n
1. Choose Void Checks from the Tasks menu.\u00a0 Using this method, you will be given a list of all uncleared checks.\u00a0 You will have to find the check number in the list of eligible checks.\u00a0 You can change the cash account at the top left if necessary.<\/p>\n
2. If you have the check open in the payments menu, you can click the Delete Button, which will then show two other buttons.\u00a0 Click on Void.\u00a0 (older versions may have a separate Void button.).\u00a0 This method will bring you to the same list, but will automatically select the check in the list.<\/p>\n
Once you have the check highlighted in the list, you need to set the Void Date at the top right of this window.\u00a0 The void date is very important, and it is probably the most common trouble area in this process.\u00a0 This is the date on which Peachtree will post the negative payment.\u00a0 If you discover that you need to void a check right away, the void date could be the same as the original check date.\u00a0 But if you discover it later, especially if the month has been closed, your void date should probably be today.\u00a0 If you change the date to sometime in a prior month, you will change that month’s ending balances by the amount of the check.\u00a0 After you have set the date correctly, click the Void button at the bottom of the window, When you are done voiding checks, click Close.<\/p>\n
At this point you are done voiding checks.\u00a0 But if those checks were applied to invoices, you now have unpaid invoices to deal with.\u00a0 In the case of a check that was lost, you are all set, because you can select the invoice to pay just like you did the first time.\u00a0 But if the invoice shouldn’t be paid, such as an invoice that was entered twice, then you need a way to get the invoice out of your payables.\u00a0 This is the other place that some people make a mistake.\u00a0 It is very important that you DO NOT edit the invoice to make it $0.\u00a0 That can cause many different problems including throwing your trial balance out of balance.\u00a0 The correct procedure is to enter a Vendor Credit Memo (or a negative invoice in older versions) and apply it to the invoice.\u00a0 Yes, your current month expenses will be affected, but you are really just correcting an expense that was improperly reported in a previous month.<\/p>\n
Wow, that is a lot to write about voiding checks.\u00a0 I hope you are still awake.\u00a0 And I hope these tips will save you some trouble the next time you need to void a check.<\/p>\n","protected":false},"excerpt":{"rendered":"
This simple task generates a surprising number of support calls. Watch for these two important details and you should have no problems.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/112"}],"collection":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/comments?post=112"}],"version-history":[{"count":3,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/112\/revisions"}],"predecessor-version":[{"id":564,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/112\/revisions\/564"}],"wp:attachment":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/media?parent=112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/categories?post=112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/tags?post=112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}