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Level 1

How do I void a check from a closed period that has exp and liability on it and reissue it in the current period?

Someone I wrote a mortgage check to, including prin and int, didn't cash 5 checks from last year.  I have to reissue a check for the lost checks.  How do I do this?

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Best answer 12-10-2018

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Level 4

To void a check from a closed / prior period:  Enter a de...

To void a check from a closed / prior period:  Enter a deposit in the current period for the total amount and post it to principal & interest accounts.  Put in the description the Check #s that you are voiding.  This puts the amount back in the checking account.

Then, when you reconcile the bank account check the checks being voided & the deposit as being cleared.  

Reissue a check as needed.

I hope this was helpful, if so please click yes.

View solution in original post

16 Comments
Level 4

To void a check from a closed / prior period:  Enter a de...

To void a check from a closed / prior period:  Enter a deposit in the current period for the total amount and post it to principal & interest accounts.  Put in the description the Check #s that you are voiding.  This puts the amount back in the checking account.

Then, when you reconcile the bank account check the checks being voided & the deposit as being cleared.  

Reissue a check as needed.

I hope this was helpful, if so please click yes.

View solution in original post

Level 1

Thanks!

Thanks!
Level 15

I would make One Total deposit and post this to Other Lia...

I would make One Total deposit and post this to Other Liability = not your funds.

Now, issue the Replacement Check from that same Other Liability.

This initial deposit will offset the amount for all uncleared checks, next reconciliation, affecting the reconciliation as 0 total.

And this does not impact the loan or interest or anything in the closed period.

Level 4

Go to the payment that was paid off by the cheque open it...

Go to the payment that was paid off by the cheque open it untick the payment and the issue new check and pay off the open bill. Now it will void.

Level 1

I couldn't find what you are talking about. All the othe...

I couldn't find what you are talking about.

All the other things I've read about voiding a check with liabilities in it sounded more dire than this approach.  Also, the checks were written without going through accounts payable.  How does this affect things?
Level 4

In that case you should be able to open the cheque and ju...

In that case you should be able to open the cheque and just void it from the top menu. under delete icon.

Level 4

That isn't recommended for a check in a closed / prior ye...

That isn't recommended for a check in a closed / prior year.  It voids it as of the date of the check -- changing balances in the closed period.
Level 1

Re: To void a check from a closed / prior period: Enter a de...

This is the cleanest, clearest, easiest way that I have seen explained.  I can make a deposit in December 2018 referencing all of the checks that I am voiding, both from 2017 and 2018.  I'll use the same accounts used on the original checks, the bills will not need to be dealt with at all.  2017 and earlier months in 2018 are not changed at all.  I can then reconcile December checking, clearing all of the voided checks and the deposit I 'created'.  Wonderful!  Thank you, thank you, thank you.  Michelle, you're the best!

Level 1

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in the current period?

This is an absolutely ridiculous option, as if you have a check to void that has several invoices on it, you will now need to re-enter the invoices in order to issue a new check.

 

QB needs to allow you to void a check on a date future of the date the check was written.  This is real world!

QuickBooks Team

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in...

Hello there, @Lori 99.

 

I'd like to provide you with steps about voiding your transactions in QuickBooks.

 

If the transaction is incorrectly entered,you have the option to delete or void the bill payments. Let me walk you through doing so.

 

  1. Open the Bill Payment.
  2. Click the Delete drop-down list.
  3. Choose either Delete Check or Void.
  4. Click Yes.

You can always leave a comment below if you have other questions about managing your transactions in QuickBooks. I'm here to help.

Level 1

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in...

When Using the QuickBooks Desktop version I was using previously, a Journal entry was automatically created to offset the voided check in the prior billing period.  The online version does not do this.  I made a suggestion on their site to add the feature to online QB.  I more people request the change, it might help the cause.  

QuickBooks Team

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in...

Hello there, NP User.

 

Thanks for pointing this out and I appreciate you for sharing your insights about creating journal entries in QuickBooks Desktop.

 

While QuickBooks Online doesn't automatically create a Journal Entry, you can still manually create a Journal Entry to zero out the voided check as an alternative.

 

Meanwhile, it's nice to know that you're able to sent a feature request for this. I'm also looking forward of having this feature soon on our next updates. 

 

For now, you may also want to check for the latest QuickBooks feature updates through our QuickBooks Blog: https://quickbooks.intuit.com/blog/.

 

Don't hesitate to get back to me if you have other QuickBooks questions. I'd be glad to answer them.​

Level 2

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in...

I know this post was initially related to QBO. However, I can use assistance is a similar scenario in QB Desktop.

 

How do you void a vendor check in QB Desktop for a prior year without impacting the prior year financial statements? I've heard that QBD automatically creates a journal entry so the financials are not impacted, but have not had any lick finding exactly how to do it.

 

Thanks for your help in advance, Linda

QuickBooks Team

Re: How do I void a check from a closed period that has exp and liability on it and reissue it in...

Greetings, @lmaklary.


Yes, QBDT automatically creates a Journal Entry when you void a transaction from a closed period. Check out the following articles for more information: 

The original post is for QuickBooks Desktop, so you can use the steps shared by our Community backers above to reissue a check without impacting your prior year financial.


You can make a deposit with the current date for the total amount and post it to the Other Current Liability account. Once done, create a replacement check to pay out the liability. The deposit should clear against the uncashed transaction to zero out reconciliation. 


Here’s how:

  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. Select Other Current Liability under the From Account column.
  7. Fill in the Chk No and Amount fields.
  8. Hit Save & Close.

deposit 1.PNG deposit 2.PNG deposit 3.PNG

 

Right after, reissue the check by following the steps below:

  1. Go to Banking menu and select Write Checks.
  2. Enter other necessary information.
  3. Under the Expenses tab, select Other Current Liability on the Account column, then the Amount.
  4. Hit Save, then Print.

write check 1.PNG write check 2.PNG

 

Check out the following articles for more information: 

That should get you pointed in the right direction. 


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!

Level 1

Re: To void a check from a closed / prior period: Enter a de...

This is really a bit ridiculous.  If QB wants to be an accounting system it should be an full fledged accounting system.  You should be able to date a voided check as well as a bill so it does not effect the prior year.  I have a case where I do not want to reissue the checks that are voided and while I can do a JE to clear out the AP liability and the expense in the current year, I can't clear the actual bill without deleting it which will also change the prior year balances.  How do I void the check in a prior year and void the bill without effecting the prior year balances?

QuickBooks Team

Re: To void a check from a closed / prior period: Enter a de...

Hello there, void a check and bill from prior.

 

I appreciate you for sharing your thoughts with us. I got your point here.

 

Voiding both check and bill from prior year will always affect your balances. For now, you'll want to consider creating a Journal Entry or follow the recommendation shared by KhimG. You'll also have to choose what specific year you'd like the changes to affect.

 

All the resources that you need to know about the whole process are provided by my colleague's above. I'd also suggest seeking professional help from your accountant on what's the best way to handle this situation. 

 

You can always get back to me if you other questions and I'll be here to keep helping.

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