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DCTLori
Level 1

Void a check from prior fiscal year

What account should use for the general journal entry to fix a voided check from the prior fiscal year?

Solved
Best answer July 28, 2020

Best Answers
BigRedConsulting
Community Champion

Void a check from prior fiscal year

Some might say the same account used on the check.

 

But...  what is it you you need to fix regarding a check voided in a prior year? How is that different than a current year voided check?

View solution in original post

2 Comments
BigRedConsulting
Community Champion

Void a check from prior fiscal year

Some might say the same account used on the check.

 

But...  what is it you you need to fix regarding a check voided in a prior year? How is that different than a current year voided check?

View solution in original post

DCTLori
Level 1

Void a check from prior fiscal year

After the Prior year check is voided, you need to do a GJE to make sure the (prior year) balance sheet remains the same and the reversal recorded in the current period/year.  There are 2 accounts associated with a GJE, one being "Donations", what other account would I use?

 

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