HOW TO VOID A CHECK IN QUICKBOOKS
Void a Check In QuickBooks- Overview
You can Void a Check In QuickBooks which you have created. To void a check, first open the check and displays it in the “Write Checks” window. Then choose “Edit| Void Check” from the Menu Bar to void the check shown in the “Write Checks” window. Save the changes to the check, and click on the “Save” button in the “Main” tab of the “Write Checks” window. Moreover, click on the “Save and Close” button at the bottom of the window.
QuickBooks offer to create two paper entries to maintain the accuracy of your account balances and financial reports. To allow QuickBooks to make these entries for you, click on the “Yes” button in the message box that appears on the display. Moreover, to make the entries yourself, click on the “No, just void the check” button.
How to Void a Check In QuickBooks?
- To Void a Check In QuickBooks have a click on the Write Checks in the window.
- Then choose “Edit| Void Check” from the Menu Bar present at the top to void the check shown in the “Write Checks” window.
- To save the changes to the check, click on the “Save” button available in the “Main” tab of the “Write Checks” window or click on the “Save & Close” button available at the bottom of the window.
- QuickBooks offers two journal entries to sustain the accuracy of your account balances and financial reports.
- QuickBooks enter these entries and click on the “Yes” button.Otherwise, you have to make the entries and click on the “No” button in which just void the check button is there.
Voiding a Paper Check within QuickBooks
- Click “Banking” and “Write Checks” and then on the account in which check was written under the Expenses section.
- Type the check number in the “Check Number” field from the paper check. Type a date into the “Date” field and Enter “0.00” into the “$” field, and then type a payee name into the “Pay to Order” field.
- Click on the Edit button and then on the check the void paper check.
- Click on the “Yes” when the message prompted. This updates the organizations journal with the date and time you are voiding the check, and also changes the check’s amount to zero.
- Instead, click on “No” if you want to void the check using the date which is originally written on the check. This does not update the organization’s journal, but also shows the check as voided.
- Hit on “Record” button to finalize the void.
What to do with a payroll check
If this check is a payroll check, and all payroll tax returns have been filed, then voiding the check has a huge effect. The best way to handle this is to void the check and to reprint it using a new check number. Ensure that the employee cashes the check.
Check in the current period
If the check is in the present period, simply change the quantity to zero. Leave the rest alone.
Check in the prior year
If the check is in a prior year, you need to be careful. It can produce wreck havoc on your balance sheet that can tie back once again to your tax return. We suggest building a deposit entry for the total amount of the voided check.
If you find that you need help to Void a Check In QuickBooks, clear out your checks and if you aren’t comfortable doing it, then don’t get hesitate feel free to consult with our experts at any time.