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Bookkeeping49
Level 3

How to void a check from a prior period

A cheque that is over a year old has not been cashed and the vendor is not reachable.   How do I void a cheque from the prior period.  


Solved
Best answer March 11, 2019

Best Answers
qbteachmt
Level 15

How to void a check from a prior period

Don't Void it; offset it with a Deposit entry dated current, for whatever you need that will be the reversal of that entry.

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74 Comments 74
qbteachmt
Level 15

How to void a check from a prior period

Don't Void it; offset it with a Deposit entry dated current, for whatever you need that will be the reversal of that entry.
Bookkeeping49
Level 3

How to void a check from a prior period

YES!! of course.  Thank you..
stolton
Level 1

How to void a check from a prior period

When you made the dep (for the off-setting entry) what account did you hit?
qbteachmt
Level 15

How to void a check from a prior period

Whatever you need this to be is what you post it to. Example: If you wrote a check for Office supplies that was never cashed, the deposit can be Office Supplies similar to a refund.
stolton
Level 1

How to void a check from a prior period

But the check paid for an invoice that will be adjusted back as well.  I think I can use my misc account for the wash account on both ends.  Thank you!
qbteachmt
Level 15

How to void a check from a prior period

It doesn't matter what else happened. Each transaction is evaluated for what it is and entered for what it was.
pzipper
Level 1

How to void a check from a prior period

This makes sense as a work around but still annoying that you can't void a check as of a certain date like a normal accounting procedure.  But then QB is not for anyone with accounting experience.
qbteachmt
Level 15

How to void a check from a prior period

The Desktop programs have the Void function, the Delete function, and even a Bounced function. Of Course you can Void, but "as of a certain date" = Offset, not Void. The original Transaction either exists or it doesn't = Void/Delete.
sarahcasonbbi
Level 1

How to void a check from a prior period

How do you reconcile the deposit that you created to offset the check?
qbteachmt
Level 15

How to void a check from a prior period

You reconcile the Offsetting Deposit against the Uncashed Check. That = 0 impact.
sarahcasonbbi
Level 1

How to void a check from a prior period

Thank you!!!
accounting74
Level 3

How to void a check from a prior period

this is the most Mickey Mouse program I have ever seen.  other accounting programs let you choose the void date then make the reverse entry in the background. no problem, but QB Online,......Mickey Mouse!!!!
accounting74
Level 3

How to void a check from a prior period

this is the most Mickey Mouse program I have ever seen.  other accounting programs let you choose the void date then make the reverse entry in the background. no problem, but QB Online,......Mickey Mouse!!!!
qbteachmt
Level 15

How to void a check from a prior period

"let you choose the void date then make the reverse entry in the background"

It's just the Opposite process: you choose to make the Offsetting entry so that you control the date.  That IS the reversing entry, not in the Background, but in the File. Take Control.
accounting74
Level 3

How to void a check from a prior period

You are missing my point.  By making an offsetting entry, you are not really voiding the check, right?
The check will still show up as a valid check, it will not be labeled as voided, right?  Why can't a big operation like QB allow you to choose the void date and make the offset on the chosen date?  How hard is it to write that program in?  Also, will that "voided" check still show up as a valid payment on the 1099 report?  Thank you for replying.
qbteachmt
Level 15

How to void a check from a prior period

"By making an offsetting entry, you are not really voiding the check, right?"

Exactly; that is a typical Error. This Topic is in regards to a Prior Period. You don't want to change that period, unless you intend to Amend reporting and/or restate. Like this:
I sent you a $150 check that got lost in the mail. I don't incur more Expense; we lost the Banking. I would deposit against a Liability and pay you again. This is the New Check, not New expense. And now the original check is offset by the deposit = Net of 0.

"The check will still show up as a valid check, it will not be labeled as voided, right?"

Again, Prior Period is the Concern, here. If you don't care, go ahead and Void it. For instance: I can Reprint that original QB check I sent you on New #, and then enter a Write Check as placeholder for the # that is Lost and VOID it. I would never do this against Last Year's tax reporting.

"Why can't a big operation like QB allow you to choose the void date"

When you Void Something, it already has the date on it. There is no VOID date; there is That Transaction and its date.

"and make the offset on the chosen date?"

Why do you keep insisting it needs to be Two Parts? I explained how to do it with One Step, and you get to Set the date on that offsetting deposit.

"How hard is it to write that program in?"

Did you know you are not in Live Chat with Intuit support or programming? Because this Peer Users. As a Peer User, I would rather make One Entry, not Two, for what you intend to Void. Half as much work.

"Also, will that "voided" check still show up as a valid payment on the 1099 report?"

Not if you VOID it. Keep in mind this topic is for Prior Period. And this is exactly why the offsetting deposit is Not Expense, again. The Banking issue is resolved by using Liability in and out, to Replace a check; not to Pay More expense.

"Thank you for replying."

The whole point is not to Void an expense and create Expense, again, just to fix Banking. Don't make things Worse; stop doing too many steps.
accounting74
Level 3

How to void a check from a prior period

I understand what you are saying, but in my opinion, I would rather click the Void button, enter a date (not in a prior period, I was not arguing to date in prior period) and be done with it, let the software reverse it.  I am thinking most users would pull up the check anyway to double check where the offset went for their bank deposit.  So they are there anyway.  Also, I would like the software to label the check as voided, then it would not appear on the 1099. The accounting program I used prior to QB did this. I agree, it is easy to make a deposit, but basically I just do not like quick books.
qbteachmt
Level 15

How to void a check from a prior period

Once again: 1099-Misc is not for the banking. When you need to void and replace a check, that is not New Expense or Expense, again. That is replacement Banking. You really need to remove the 1099-Misc issue from your position.
accounting74
Level 3

How to void a check from a prior period

So I should not look at the big picture?   Should I go to a different thread for the 1099 discussion?  Correct me if I am wrong, the check that was offset will still print on the 1099 report.   If so then the 1099 sent to the recipient, if not corrected, will be in error.  And I do review the 1099 reports.  I don't mean to take up so much of your time, but I sense you are talking down to me.  You are defending the procedure as if you wrote the program.  All I am saying is I wish it was done differently.  I have other complaints in other areas, but not for discussion today.
qbteachmt
Level 15

How to void a check from a prior period

This is not a 1099-Misc discussion, even though you keep trying to bring it up. Let's start over:

I pay you $1,000 in 2017 and it is reported for 1099-Misc purposes and part of my 2017 business income tax filing. You Lose the check.

I reissue a new Check to you in 2018. This is Not Expense for 2018. You didn't provide more services to me. It's not my expense for 2018 and it's not part of your 2018 income. It's replacement Banking.
accounting74
Level 3

How to void a check from a prior period

Ok, no 1099 here.  And again, I know how this all works.   What you don't seem to understand there are other ways the software can be written which is tidier; with a prior period check, it can be voided, labeled as voided, the $ amount remains in it, and not have the check print on the 1099.  And do all this while making a reversing or offsetting entry in the background.  And it will print on the voided check report.  Ok I'm done, thank you for your time.
qbteachmt
Level 15

How to void a check from a prior period

What you don't understand is that No one here is an Intuit programmer. This is a Peer User forum. Lots of other programs work differently; that's why you can go to the market and get the tools that meet your needs.
misslynnie
Level 1

How to void a check from a prior period

I have checks from a prior financial period (year has been closed and financials produced & reported) that have not cleared.  From reading the string above I understand that making a deposit in QB for the exact amount of those checks will allow me to clear them from the QB bank reconciliation.  How do I make an adjusting entry to correct the expense for a prior period?  Management will not approve reopening the prior period for adjustments, so I need to work with the accounts and reporting in the current financial year.  I appreciate your help!
qbteachmt
Level 15

How to void a check from a prior period

"How do I make an adjusting entry to correct the expense for a prior period?"

You control what you put on this Deposit. You have to Know what needs to happen, next.

Examples:

I thought we spent $1,000 on Subcontractor Graphic Arts, but that person never cashed the check. That Deposit is against Other Liability. I need to chase down the person and replace the Lost Bank Check by paying out the liability on a New Check; this won't be more expense. Or, I turn it over to the State, paying it out as Liability, as Lost Property under the Escheat laws. Or, I enter the offsetting current Deposit as "Prior Year Equity Restatement" because I though we made a payment to the State for a filing fee with some sort of application packet, and did not know the engineer failed to file; there will be no replacement check until we determine the status of that application process.

For Prior Year Restatement, you Zero that out on the first date of the Next Fiscal Year to real equity.

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