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ddyer29
May 22, 2021
Question

Voided check of closed account?

  • May 22, 2021
  • 1 reply
  • 0 views

I made an S corp in early 2019, the account got closed a little over a year latter, (Didn't file the Annual report) I reinstated my S corp recently, once reinstated, the business now has a new account number as opposed to the first original one, keep in mind under the same S corp name and credentials, just new account number. I need a voided check of the original first account number, how can i go about fulfilling this?

1 reply

MaryLandT
MaryLandT
May 22, 2021

I can provide the steps needed to accomplish your task, ddyer29.

 

Voiding the check will affect your financial record if the check was written in 2019. You can enter a deposit in the current period for the total amount and post it to the principal account.

 

  1. Select + New, then Bank Deposit.
  2. From the Account ▼ drop-down, choose the account you want to put the money into.
  3. Scroll down to the Add funds to this deposit section.
  4. Enter in the description field the check number that you are voiding. Doing this will put the amount back in the checking account. 
  5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  6. Select Save and close.
     

Another solution is to create a journal entry to reverse the activity in the current period. Upon sharing this, I still recommend consulting your account to know which account to debit and credit.

 

You can always leave a comment below if you have other questions about managing your transactions in QuickBooks. I'm here to help you.

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