How do I void a bill payment check in a closed period without affecting the closed financials and then reissue the payment in the current period?

57 replies
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The vendor never received the bill payment check and therefore I need to void the payment check from the closed period (and issue a new check in the current period) while still keeping the expenses incurred in the closed period in the closed period and not the current period.

QuickBooks Enterprise Suite

qbteachmtAnswer

Level 11

"The vendor never received the bill payment check"

The opposite of a check is a Deposit to an Other Liability account, dated now.

Then, issue a replacement check to the vendor name, and list the Other Liability account on the Expenses tab, dated Now.

The original check and the deposit = offset each other to 0, next reconciliation.

This is not Expense again, and don't change history.

qbteachmtAnswer

Level 11

"The vendor never received the bill payment check"

The opposite of a check is a Deposit to an Other Liability account, dated now.

Then, issue a replacement check to the vendor name, and list the Other Liability account on the Expenses tab, dated Now.

The original check and the deposit = offset each other to 0, next reconciliation.

This is not Expense again, and don't change history.

beamie68

So in the above scenario do you not void the check? Just leave it and clear both it and the deposit when you reconcile?

qbteachmt

Level 11

"you not void the check? Just leave it and clear both it and the deposit when you reconcile?"

Exactly.

qbteachmt

Level 11

For all of you that don't like the Offset method, then do this, instead:

Issue the same Check from the bookkeeping on a new check #. Reprint or handwrite it, leaving it for the same original date and amount. Your Bookkeeping needs to reflect the original date for the replacement on the new check #.

Now make a Placeholder check for the old # and VOID this placeholder.

Anonymous

You can't. Changing transactions in a period changes the financial reports for that period.

qbteachmt

Level 11

Never Void a transaction that happened in a previous period which has been reported. That is changing your financial history and all the accounting. That's why you don't Void; you Offset with a current entry.

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