How To Record A Voided Check In Quicken For Mac

How to Void and Un-void Checks in QuickBooks. A voided check will register as void in the memo field. If you want to void a blank check, you will create a new check with an amount of $0. Enter a name in the payee field and assign an account in the expense section. After this has been completed, you should void the check on the edit menu.

If you have outstanding checks from previous years that have never cleared, and feel confident that they never will clear, what’s the best way of getting rid of them? You don’t want to void checks from previous years, as that will make your year-end balance different from your beginning year balance, and may cause your CPA to charge you extra to figure it out. Here’s a simple work-around: • Instead of voiding a transaction from the previous year, enter a deposit using the current date • Use the same payee, the same amount, and the same expense account as the check you wanted to void. • When you reconcile the bank account clear both the outstanding check and the deposit you created.

Since they “wash” each other, they don’t change the reconciled balance. About Lillian Aaron is inspired by small and mid-sized businesses. She understands the challenges they face and the tenacity required to build strong, growing organizations. Since 1983, Lillian has worked with businesses as a business process consultant helping them implement and support leading-edge products that drive efficiency and profitability for diverse clients.

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Bill Payment There are two alternatives for voiding a check or bill payment, depending on the timing. The first is voiding a check immediately, such as a problem with printing or an error discovered before the check is sent.

The second alternative is an older check or bill payment that needs to be voided. Alternative 1 - If a check or bill payment needs to be voided immediately, there is a function within the QuickBooks software to handle it. Simply open the check or bill payment, and choose Edit > Void Check/Bill Payment. The check is voided as of the original transaction date and a history of the check number remains in the check register with 'void' noted in the memo field.

If the transaction is a bill payment, voiding the payment will only void the payment portion of the transaction. The bills will then be available to be paid again. If the bills need to be voided, they will need to be handled individually.

Alternative 2 - If the check or bill payment is older, the void option does not work well since the transaction is voided as of the original transaction date, thereby affecting the previous period. Instead, enter a with a current date, coded to the general ledger account that was used in the original transaction. When the next bank reconciliation is completed, place a check mark next to the deposit and next to the check. The difference is zero so it will not affect the bank reconciliation in total, but both will be removed from future reports.