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Good day,
We moved to great plain 2013 and keyed in all outstanding cheques into great plain.
I need to cancel a cheque that journal entry was recorded in the old system, How to cancel in great plain and what is the adjusting entry to offset?
Thanks.
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Your normal entry would open up the transaction to be available in A/P but if you are voiding the check totally and the voucher then it would be a debit against CASH and a CR against the expense account that the check was for. I am assuming that you are not going to be re-cutting this check? And since this is already off the book and out of Bank Reconciliation, all of this would be done thru the GL at this time.
Hello Everyone,
Cheque was canceled. No account effected. It was originally dr and cr to bank account.
Now, how to record in Great Plain. That canceled cheque was recorded in old book. original entry dr expense and cr AP.
Please help!
Thank you very much and you have a great day.
If you did this check entry thru Bank Module then you will want to go in and void the check and look at what the accounts you originally hit. In most cases if it was entered in banking as a check but they hit the cash account twice for the db and the cr so that they would have no effect against the GL. So, when you go to void, you might want to change the CR to go against the expense account that this was originally posted against. Or if you let it go thru, then you need to do a JE to correct that it hit cash twice. And make an entry to CR the expense account and DB out CASH
Your normal entry would open up the transaction to be available in A/P but if you are voiding the check totally and the voucher then it would be a debit against CASH and a CR against the expense account that the check was for. I am assuming that you are not going to be re-cutting this check?
Have you recorded these opening balances on the Bank Reconciliation module ? In case you did so, you can reach the same window and choose the "void transaction" option rather than "enter a transaction"
Proceed with choosing the checkbook and the transaction number to be voided.
Most importantly, you need to consider the post to general ledger option such as you did when entering the opening balances.
Your feedback is highly appreciated,
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