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M
mandi_kaye21
January 9, 2024
Question

How to void a check from a prior period and not affect retained earnings?

  • January 9, 2024
  • 1 reply
  • 0 views

We currently have checks dated back several years that have never cleared the account. We are trying to get the checks cleared from the reconciliation and not affect retained earnings and put the money back in the account. We don't want to go in and void or delete the checks since the prior years have been closed. Can anyone help with this process? Thanks! 

1 reply

M
Mark_AG
January 9, 2024

I understand the importance of voiding a check from a prior period, Mandi. Rest assured that I can help you achieve this. 

 

Closing your books in QuickBooks Desktop is a crucial step to ensure that everything stays how you want it to and prevent any accidental changes that could affect your financial reports. In this case, you can consider creating a Journal Entry to reverse the check. However, you'll need to consult your accountant since this period is already closed.

 

You can also learn how to create a journal entry in QuickBooks Desktop. As always, please consult with your accountant or tax preparer before making such changes to ensure the accuracy of your financial reports and tax returns.

 

Feel free to leave a reply if you have further concerns about voiding a check from a closed period in QuickBooks Desktop. I'm always here to assist you.

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