Hello there, @Shelagh37.
Yes, you have the option to void the original transaction that did not go through and recreate the entry from when the payment became successful. Just use a bank deposit to show the returned funds to increase your bank balance again.
There are also a lot of ways to handle this depending on your scenario. See this link for the steps: Record a supplier refund in QuickBooks Desktop
Just keep in mind that voiding an old entry might affect past reconciliations as it changes the bank balances. You'll need to re-reconcile previous month's accounts to ensure the balances are accurate.
Since this issue requires in-depth accounting processes, we do recommend that you reach out to an accounting professional first. We can only provide the steps you need to do in QuickBooks, but handling your books and doing adjustments for previous reconciliations is best assisted by your accountant.
If you don't have one, we can help you find someone to help you. You can visit the following link to locate accountants based in the US: https://quickbooks.intuit.com/find-an-accountant/
Just for your reference, visit this link for QuickBooks Desktop help hub.
Visit us anytime for additional questions or concerns. I'll be right here to help you out. Have a good one!
