How do I void a check from a closed fiscal year and reissue it in current fiscal year without changing my prior year financials?

Hi there, Angela902. I can share some information about voiding checks from a closed fiscal year in QuickBooks Desktop (QBDT). 

Voiding checks from previous closed fiscal years and reissuing them in the current fiscal year without changing the financial statements of the closed fiscal years can be a complex process in QuickBooks Desktop (QB Desktop). 

For the uncashed check, you can record it as a bank deposit. Let's make sure to use the same account for the expense accounts and the current date.

Here's how to create bank deposit:

1. Go to Banking menu and select Make Deposits.
2. Hit OK on the Payments to Deposit window.
3. Choose the account where you want the money deposited to.
4. Enter Date.
5. On the Received From column, select the vendor.
6. Fill in the Chk No and Amount fields.
7. Hit Save & Close.

Then, create a write check again.

Check out the following articles for more information: 

• Record Deposits/make Deposits.
• Create, modify, and print checks.

Let me know how everything turns out, or if you have any issues after following those steps. I’m always here ready to help. Have a good one!

Thank you,

I am not understanding where the complexity lies. I have read a lot here about journal entries being needed. When would I need to use a journal entry and what would that journal look like?

Your suggestion seems to work, so far. But I don't really fully understand what is going on.

With the process above, I am manually voiding the check (with a deposit) instead of using the Quickbooks void feature? 

Thank you,

Angela

Good morning, @Angela902. 

Thanks for coming back here and asking more questions. 

Journal Entries are last resort for entering transactions. You can do the follow with them: 

• Enter debits and credits manually, like in traditional accounting systems
• Transfer money between income and expense accounts
• Transfer money from an asset, liability, or equity account to an income or expense account

Review this guide for more details on Journal Entries and how to enter them into the system: Create a Journal Entry in QuickBooks Desktop for Windows or Mac. 

I hope this helps answer your question. I'm only a post away if you need me again. Take care! 

Thank you, I do know how to enter journal entries. I also know how to write checks, enter bills and pay them, make deposits, all of these tasks I am very familiar with.

My question was specifically regarding the subject at hand: voiding checks from prior periods without changing those prior periods. you said it could be complex. Then you offered a simple solution. I have seen many workarounds suggested here that did seem rather complex, or at least confusing, I was hoping you could make sense of them.

But it's ok. the suggestion you provided seems to have accomplished what I needed.

Thank you,

Angela

I also have been trying to find an answer to this very question for over a year now.  The best explanation that I've been able to find is from a YouTube video from QuickBooks Made Easy by Gregg Bossen Check from a Prior Year in QuickBooksQuickTips™:Voiding Checks from Prior Periods by QuickBooks® Made Easy™  

According to this video and other replies that I've seen in several threads in QuickBooks Support and Community there should be a QuickBooks pop-up window that appears after you click Void on what I call the 'check screen' that reads To maintain the accuracy of your financial reports and balance the accounts affected by the check, QuickBooks can create a journal entry in the earlier period and a reversing journal entry in the current period.  Would you like QuickBooks to void the check and enter the appropriate journal entries for you?  Yes - No, just void the check - Cancel  You should click "Yes"

Anyway, this popup screen does NOT appear on my screen when I void any check and no one has been able to tell me why.  This same video shows what happens when the journal entries are made.  These JEs are not made automatically when using QB Online so I believe he explains how to make these when using Online in my case I have to manually make the JEs because of no option for me to click Yes and have QB Desktop automatically do these for me.

Quickbooks desktop, could make the journal entries for you, but Quickbooks online does not.  Here is how to make the manual journal entries when voiding a check from a prior fiscal period.

1. Void the check in the previous fiscal period.

2. Create 1 journal to debit the bank account and credit the expense account in the previous fiscal period. Note in the memo section TO VOID CHECK #_________ on ________.

3. Reverse journal entry in the current period (on the date you write the new check).

4. Write a new check/payment in the current period.

Reconcile the voided, uncleared check with the journal entries.

Sorry, I couldn't go back and edit my reply post..  I had the journal entries backwards.  You enter a journal entry in the prior period to credit checking account and debit the expense account, then reverse it in the current period.