If you are voiding a check associated with non-expense accounts or items (a check used to purchase inventory items, a bill payment check, a paycheck, a payroll liability check), you should consult with your accountant. This adds cash back to the checkbook balance in current period.
The second journal entry, dated in the current period, reverses the accounting entry of the original check.Journal entry Voiding check after reconciliation or closing period.
#How to reverse a voided check in quickbooks 2018 desktop how to#
This assures no changes will be made to the prior period’s reports. How to Void A Check in QuickBooks Desktop Pro, Premier, Enterprise software in few steps.
If you want to void a check from a prior year or closed period, QuickBooks warns that it could affect the accuracy of your prior period reports and account balances. During this time of year when financials and tax returns are being prepared, you may want to clear out old outstanding checks from your checking account.