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arkvalleyinfo
Dec 11, 2018 5:41 AM UTC
Solved

How do I void a bill payment check in a closed period without affecting the closed financials and then reissue the payment in the current period?

The vendor never received the bill payment check and therefore I need to void the payment check from the closed period (and issue a new check in the current period) while still keeping the expenses incurred in the closed period in the closed period and not the current period.

qbteachmt
qbteachmtAnswer
Dec 11, 2018 5:41 AM UTC

"The vendor never received the bill payment check"

The opposite of a check is a Deposit to an Other Liability account, dated now.

Then, issue a replacement check to the vendor name, and list the Other Liability account on the Expenses tab, dated Now.

The original check and the deposit = offset each other to 0, next reconciliation.

This is not Expense again, and don't change history.


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56 replies

qbteachmt
qbteachmtAnswer
Dec 11, 2018 5:41 AM UTC

"The vendor never received the bill payment check"

The opposite of a check is a Deposit to an Other Liability account, dated now.

Then, issue a replacement check to the vendor name, and list the Other Liability account on the Expenses tab, dated Now.

The original check and the deposit = offset each other to 0, next reconciliation.

This is not Expense again, and don't change history.


    beamie68
    Dec 11, 2018 5:41 AM UTC
    So in the above scenario do you not void the check? Just leave it and clear both it and the deposit when you reconcile?
    qbteachmt
    qbteachmt
    Dec 11, 2018 5:41 AM UTC

    "you not void the check? Just leave it and clear both it and the deposit when you reconcile?"

    Exactly.


    qbteachmt
    qbteachmt
    Dec 11, 2018 5:41 AM UTC

    For all of you that don't like the Offset method, then do this, instead:

    Issue the same Check from the bookkeeping on a new check #. Reprint or handwrite it, leaving it for the same original date and amount. Your Bookkeeping needs to reflect the original date for the replacement on the new check #.

    Now make a Placeholder check for the old # and VOID this placeholder.

    Anonymous
    Dec 11, 2018 5:41 AM UTC

    You can't.  Changing transactions in a period changes the financial reports for that period.

    arkvalleyinfoAuthor
    Dec 11, 2018 5:41 AM UTC
    So, then how do I Void the bill payment check (as it has been lost), reissue another check, and still keep my financial records intact?  There's got to be a way... this doesn't seem like a completely unrealistic scenario.
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