PSA L&P - Checks: How voided checks are recorded

How voided checks are recorded 

  1. When you void a check, the software will ask you to enter a void date and if you want to make a copy of the original bill.
    • The void date should be during an open accounting period. 
    • If the void date is in a closed period, any period ending reports will no longer match what's in the system.
  2. After voiding the check, it will display like the image below. Notice that the amount is still the original amount of the check.
  3. A reversing Journal Entry is created when a check is voided.
    • Instead of changing the check amount to zero, the voiding process adds a journal entry which reverses the original check transaction, so it will debit checking and credit expense on the void date.
    • The journal entry will be dated the void date chosen in #1 above.



Related Articles

How to handle voided checks in the Bank Reconciliation

How to "un-void" a check

How a void affects the bill

How to void a check


Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request