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DCTLori
July 28, 2020
Solved

Void a check from prior fiscal year

  • July 28, 2020
  • 1 reply
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What account should use for the general journal entry to fix a voided check from the prior fiscal year?

Best answer by BigRedConsulting

Some might say the same account used on the check.

 

But...  what is it you you need to fix regarding a check voided in a prior year? How is that different than a current year voided check?

1 reply

BigRedConsulting
BigRedConsultingAnswer
July 28, 2020

Some might say the same account used on the check.

 

But...  what is it you you need to fix regarding a check voided in a prior year? How is that different than a current year voided check?

D
DCTLoriAuthor
July 28, 2020

After the Prior year check is voided, you need to do a GJE to make sure the (prior year) balance sheet remains the same and the reversal recorded in the current period/year.  There are 2 accounts associated with a GJE, one being "Donations", what other account would I use?

 

    C
    cobywheel
    March 9, 2023

    Can you describe what these General Journal Entries would look like?

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