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Void a check dated in a previous period without affecting financial statements

You want to void a check in QuickBooks that affects the bank account as of the check date, rather than the period during which the check was voided.

Detailed instructions

In QuickBooks 2012 and later, you will be prompted to allow the program to automatically create a journal entry when voiding a check that affects an Expense account, provided you have not turned off  "Bring back all one time messages" in General Preferences.  

The message states: "To maintain the accuracy of your financial reports and balance the accounts affected by the check, QuickBooks can create a journal entry in the earlier period and a reversing journal entry in the current period.  Would you like QuickBooks to void the check and enter the appropriate journal entries for you?"

Note: This message will not appear when voiding a Bill Payment check. Journal entries for voided Bill Payments need to be manually created per the steps below.

To avoid changing the information presented on prior financial statements, create a journal entry that affects the same accounts as the voided check. Then reverse that journal entry by voiding the check in the current period.

  1. Backup your company file.
  2. Print out and void the original check.
  3. Recreate the check as a journal entry:
    1. Open the check or highlight it in the bank account register.
    2. Press the Ctrl+Y keys to open the Transaction Journal report.
    3. Select the File menu and select Print Report to print the report.
    4. Select the File menu and select Save as PDF to save the report as a PDF, or leave the report open in its own window as a reference for your journal entry.
    5. Select Company menu and select Make General Journal Entries.
    6. In the Make General Journal Entries window, enter the date of the check in the Date field.
    7. On the first line, click the Account drop-down arrow and select the account that was debited by the original check.
    8. Enter the amount of the check in the Debit column.
    9. In the Name field on the first line of the journal entry, enter the name from the check.
    10. On the second line, click the Account drop-down arrow and select the account that was credited by the original check.
    11. Enter the amount of the check in the Credit column.
    12. Click Save & New to record the journal entry and leave the Make General Journal Entries window open.
       
  4. Create a second journal entry reversing the previous journal entry:
    1. In the Make General Journal Entries field, enter the date the check was voided in the Date field.
    2. On the first line, click the Account drop-down arrow and select the account that was debited by the original check.
    3. Enter the amount of the check in the Credit column.
    4. In the Name field on the first line of the journal entry, enter the name from the check.
    5. On the second line, click the Account drop-down arrow and select the account that was credited by the original check.
    6. Enter the amount of the check in the Debit column.
    7. Click Save & Close to record the transaction.
       
  5. Reconcile the journal entries:
    1. Select the Banking menu and select Reconcile.
    2. In the Begin Reconciliation window, click the Account drop-down arrow and select the appropriate account.
    3. Enter today's date in the Statement Date field.
    4. Enter the same amount in the Ending Balance field that appears in the Beginning Balance field.
    5. Click Continue.
    6. In the Reconcile window, locate the entries that you created in steps 1 and 2 (one will appear on the Checks and Payments side, the other on the Deposits and Other Credits side).
    7. Click next to each entry to mark it with a checkmark.
    8. Ensure that the Ending Balance and Cleared Balance are the same, with a Difference of zero, and click Reconcile.

If these steps do not resolve the issue, you can read discussions and post messages and questions relating to your issue on the Intuit QuickBooks Community site for free or you can contact a technical support agent for additional guidance. Fees may apply.

KB ID# HOW12233
12/22/2014 7:34:51 AM
PPRDQSSWS402 9102 Pro 2013 b4dc63