Yes, nearly the only good reason to void a paycheck is if it was created in error and the employee didn't earn that money. In this case, voiding the check fixes your payroll so it's correct.
I don't quite know what this means: These checks were returned to us from a check cashing company (lost in the mail and stale dated now). I want to void/delete these checks and reissue a check to the check cashing company.
Why would you send your paychecks to a check cashing company? Why send them again?
In any case, if you need to re-issue checks because the old ones are too stale to cash, here's a trick:
Create new checks to replace the checks that were lost:
- On the checks, use the same bank account as the "Expense" that you're writing the check from. This will create two entries in your bank register that cancel each other out. One entry will look like a deposit.
- Perform a special/pretend reconcile, make the ending balance the same as the starting balance, and mark off both the old state checks that didn't clear and the new 'deposits'. They will cancel each other out so the total reconciled amount is 0.00.
- Print/hand-write the new checks.
- Optionally, enter explanations on the transactions indicating what you did.