Void prior years checks

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Posted on by billcolbert

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What is the best practice for handling check voids that a 2 or more years old? Just enter journal entries for each check debiting cash and crediting AP then reentering the payables invoices? We still want to show the invoices as outstanding.

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babubaskaran@outloo... 12 on at

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RE: Void prior years checks

Hi Bill,

Since its 2 year old doing journal entry and booking AP will be suitable option. While booking AP again you might need to debit & credit into same account since your journal entry will increase your AP.

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Redbeard 12,931 on at

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RE: Void prior years checks

Bill,

Typically, voiding transactions in historical years is done in the period in which the problem is discovered. It is not considered "best practice" to try an void a transaction in a closed historical period.

As a practical matter, if the Dynamics GP Year-End Closing has been performed for this year, adjustments can no-longer be entered in any period not in the last closed year. So, if Calendar or Fiscal Year 2014 is closed, then transactions in Calendar or Fiscal Year 2013 can no longer be entered/voided.

Here is a link to a Microsoft Knowledge Base article which covers how to void transactions in Payables Management, historical or open.

support.microsoft.com/.../858373

When a check is voided, the voucher becomes available to pay again. You should not have to reenter the Payables Invoices.

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billcolbert 110 on at

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RE: Void prior years checks

Thanks for the replies. Some of these checks are dated 2011 so I think journal entries and invoice reentry are the only choice. We will enter AP as the expense account on reentering the invoice so it has a $0 affect on the books.

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Community Member on at

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RE: Void prior years checks

You should be able to go into Void Historical Transactions, change both the void date and posting date to the current date, select the check(s) to void, then click void. It should re-open the payable.

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Bill Campbell 12 on at

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RE: Void prior years checks

Bill just as a quick thought, when you do this, be sure to watch the impact on the Bank Reconciliation - if you don't void the cheque 'will it not still show in Bank Reconciliation'

My question my challenge.

Remember Harry's reminder - always before doing something that you are unclear of the outcome - DO A BACKUP

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Bill Campbell 12 on at

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RE: Void prior years checks

Jelana, I think you might be correct at the Payables level, but I think Harry is addressing the matter at the GL level.

Either way, Bill and others, advice posted in this thread has many good ideas and suggestions - keep an open mind as you work through your issues.

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billcolbert 110 on at

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RE: Void prior years checks

I will try this soon. Thank you.

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