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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / void a historical tran...
Microsoft Dynamics GP (Archived)

void a historical transaction without impacting reconciled bank statement

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Posted on by Community Member

I'm running GP 10.0. We do not have a test environment. I apologize in advance as I'm new to GP. I entered an invoice in purchasing and paid the invoice using the manual payments option. I then reconciled my cash for the day. Correct so far.

My issue is that we have since received the merchandise and those goods now appear on my 'received/ not invoiced' report. Usually I go through 'Enter/Match Invoices', create an invoice, make a manual payment which reduces our payables and removes that inventory from the 'received/not invoiced' report. Obviously I can't do both.

My concern is if I void the historical transaction and proceed through 'enter/match invoices' my reconciliation will not balance but my inventory will be fixed. Is there a best way to proceed? Any help would be much appreciated.

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  • Verified answer
    L Vail Profile Picture
    L Vail 65,271 on at

    Hi Ryan,

    What account did you debit when you entered the payables transaction? When you entered the receipt, inventory is typically debited and the accrued purchases account is credited. The receipt is what updates your inventory quantities. When you match an invoice, the accrued purchases account is debited and accounts payable is credited. It's at this point that you have a payable on your AP trial balance. You can close the PO even if you haven't invoice matched it, but that doesn't fix your accrued purchases GL account. If you void the historical transactions (the payment and then the invoice), you should be OK doing the invoice match so long as you use the same dates. Did the check already clear the bank?

    Kind regards,

    Leslie

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    Thanks Leslie. I have debited the accrued purchases GL with the correct amount. It sounds like the match invoices does two things; updates the accrued purchases GL and closes the PO.  Because I've already cleaned up the accrued purchases GL when my check cleared I just need to close the PO. Do you know how it'd do that?

    Just one question about voiding the historical txn and then using the match invoices method. I've read elsewhere that if you use the GP bank reconciliation module you shouldn't touch a bank transaction you've already reconciled it. Maybe I missed reading something and it's possible in some circumstances.

    Thanks again for your assistance.

  • Verified answer
    L Vail Profile Picture
    L Vail 65,271 on at

    Hi Ryan,

    That rule of thumb is a good one to follow, but unique circumstances may force us to do something that is outside the norm. Having said that, did you, in fact pay this vendor and did that vendor check clear? AP will let you void a cleared check (though it does warn you), it will show up as a negative check on your next bank rec. Not something you should do with any regularity.

    You can close the PO using the Edit Purchase Orders entry window. You can find this in the Purchasing Transaction section. Change the Line Item Status to Closed. If that's the only line item, it should change the PO status to Completed. Once completed, it's ready for you to move it to History.

    Kind regards,

    Leslie

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