How do you cleanly void and bill and bill payment from prior period without changing your financials?

N_Turner · ‎October 30, 2018

I'm trying to void a bill payment and bill from a prior period. The check was never mailed and we will not process payment to the vendor. How can I do this cleanly in QB's. I'm used to working on an actual accounting system platform that does not allow you to so easily remove things without thought or realization that they are gone.

Rustler · ‎October 30, 2018

Make a deposit to the bank account the check was written on in the amount of bill, use the bills expense account as the source account for the deposit. when you reconcile, check off the check and the deposit against each other.

This will not work if the bill was for inventory type items.

N_Turner · ‎October 30, 2018

FY ended 3/31/18. Check cut on 3/30/18. Need to void the check today but leave the expense/bill/liability open as of 3/31/18. In the current FY, (today) I need to show the check being voided and the liability removed as of 10/30/18 not 3/30/18. Not sure if I understand the steps you reference taking care of both items. How is the vendor record impacted?

qbteachmt · ‎October 30, 2018

You are not Voiding anything. You are Offsetting that info in the current cycle.

The bill is Moot; you already paid it. There is no Liability to remove. The pretend Deposit will make the reversing entry Now, for the details you put on the Bill, but this is a funding event into the Bank, to offset a check that exists but isn't ever going to be cashed.

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How do you cleanly void and bill and bill payment from prior period without changing your financials?