The following instructions will guide you through enter journal entries to fix a Paycheck which was voided in the wrong period. Another option is to process a payroll for just that check for that period which is not addressed in this article.
- Print the page from batch report for the payroll this check was in. This will give you all expense and income accounts affected by the check.
- In General Ledger, Individual Transactions, create the entries to record these debits and credits just as the original check did but use the date you used when you voided the transaction. This may be the original check date, but if not, use the void date. This puts the numbers back into the account on the date they were removed.
- When you enter the credit for the checking account, you will get the following message: Click ‘Yes.’
- Now, recreate the voiding entry by doing the exact same thing as shown above EXCEPT enter the correct date for the VOID and use the exact reverse in terms of debits and credits. So, where you just created debit entries, on this new Voiding batch, create credit entries, etc.
- Keep in mind that the 941 reports may be incorrect now, if they were generated when the initial check was still in the system (before the void). Also, the taxes paid may have been incorrect, if this check was voided because it was the wrong amount.