Voiding or Deleting Bank Deposits

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Posted on by Rita Wong

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Hi,

I hope someone can help - we're using G.P V9. There's been 2 deposits that have been sitting in my bank outstanding report from 2008 and 2009.

I just want to delete or void these deposits as they are old and were mistakes - plus the year has been closed.

If I void the transaction in the Bank Deposit module today, will voiding the transaction affect the historical transaction? The only date that shows up in the bank deposit module is the 'deposit date'....I want to be able to void or delete the transaction with no affect to the historical years as obviously the years are now closed. If I change the deposit date, is that really the void date?

I'm very paranoid with the dates in G.P. ...How can I be sure that if I void or delete the transaction there's no effect?

Rita

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Sagi88 2,250 on at

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Re: Voiding or Deleting Bank Deposits

Hi Rita.

Voiding the deposit will put the receipts it contained as undeposited only. Not affecting accounts balances but should change the checkbook balance.

You will then need to go back to Bank Deposits and select the Clear Unused receipts options to remove them form the outstanding receipts.

Hope this helps

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Raiyan Koya 55 on at

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RE: Voiding or Deleting Bank Deposits

Hi Sagi88 ,

I saw this thread and I had two deposits outstanding from 2018 and wanted to void them. I followed the above steps. I know my checkbook balance has changed now . But my cash account should also change. And now by UNCLEAR the used receipts it doesnt create a reversal entry. So my checkbook and cash balance is out of balance. What could I do to fix this ? @Richard E Wheeler

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Raiyan Koya 55 on at

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RE: Voiding or Deleting Bank Deposits

Richard Wheeler Can you please see the above comment. I tried tagging but didnt work. So here it is now.

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Richard Wheeler 75,848 Moderator on at

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RE: Voiding or Deleting Bank Deposits

Can you find the transactions relating to the voiding anywhere in your ledger tables? It sounds like the resulting ledger transactions never hit the GL. If that is the case you could enter ledger entries.

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Heather Roggeveen 9,146 on at

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RE: Voiding or Deleting Bank Deposits

Hi

What wasn't clear from the original instructions is the effect of using the processes.

Void deposit will put it back to the bank deposit window and yes, will adjust the check book balance. Clear unused receipts will do just that - remove them from the deposit entry window. None of those functions impact the GL accounts.

The key is here, what behaviour did you want? Why did these not need to be in the bank reconciliation? Were they customer receipts done incorrectly - if so, you would then need to void the customer receipt, which posts to the GL. Were they processed twice as a bank transaction entry? Then there will need to be a reversal entry made.

It is very rare that you should have to use the Clear Unused Receipts process - if a receipt is incorrect in the bank reconciliation, there should be a clear reason why that is the case. As you have now used it, then your only course of action will be to do a journal to the cash account, offsetting where it needs to go back to.

Cheers

Heather

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Raiyan Koya 55 on at

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RE: Voiding or Deleting Bank Deposits

So the two transactions I cleared by doing unused receipts was because they were outstanding since 2017 and needs to be reversed/voided. I will probably have to do a journal entry now. Since they are cleared now. It was two deposits.

One: It was a return/credit done for one of our tradeshow user. But needs to be reversed. So since I cleared it by "clear unused receipts" I can do a GL entry right ? BEcause the return is posted into history now. And once its in history Idk how to void or reverse the credit.

Second: This consist of (2 payments by credit card made in 2019 and one return/credit issued for a customer as RMA). So the 2 payments never got deposited into our bank and that credit isnt needed anymore. Customer is no longer with us and we need to reverse it. So how can these And these transactions are also in history so Idont know how to reverse them. So can I just do a GL entry by looking at those transactions dsitribution GL ?

Because I need to do a journal to the cash accounts to match my cash GL balance with the checkbook balance in bank rec. Please let me know. I m close to closing my month this week so will need your guys help.
Heather Roggeveen Richard Wheeler See below screenshot for an idea. Thanks a lot guys for your help

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Raiyan Koya 55 on at

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RE: Voiding or Deleting Bank Deposits

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Richard Wheeler 75,848 Moderator on at

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RE: Voiding or Deleting Bank Deposits

Have you closed 2019 yet? You can post to history but only one year back. Since your cleared these receipts as deposits with no receipts nothing went to the ledger. You are free now to enter the ledger entries without fear of doubling them up.

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Mitch17 5 on at

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RE: Voiding or Deleting Bank Deposits

Yes. For me to tagging didn't work. Any alternative is required here

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Raiyan Koya 55 on at

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RE: Voiding or Deleting Bank Deposits

yes im pretty sure 2019 is closed. We close each month and now everything is in history. These deposit is with receipts (not without receipts) yes Im prettyy sure nothing went to the ledger . I checked the cash GL account nothing seems to hit. I l cleared them as 24th of june. So shall I put these deposit transactions and see their GL and make opposite GL entries and post them as June 24?

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