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Modify how Voided Checks are displayed & calculated on the bank reconciliation

  • 19 September 2022
  • 7 replies
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Often a client will issue a check in one financial period and then void it in another.  If the check is voided before the bank reconciliation is done, the check has a balance of 0 on the bank rec.

The proper way to handle this is to include the amount as outstanding in the month is was issued and voided/cleared in the month it was voided.

For instance, if a check is issued 8/15/2022 for $5,000 and voided on 9/10/2022.  The August, 2022 reconciliation needs to show the $5,000 as an outstanding item.  

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Best answer by coleenmcnally22 24 January 2023, 16:57

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Hi @bduprey51 

Can you give more information on this? Such as how often it happens and why is this the process? Is this for checks that are for example over a year old?

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This can be for any check that is voided.  Some business examples are for checks that haven’t cleared in the last year or 6 months.  Sometimes it can happen as in this case where the check is issued at the end of a month.  The client’s vendor states they didn’t receive the check so it needs to be replaced.  They aren’t notified until the beginning of the next month. 

Technically the check is open at the end of the month it is issued because the void doesn’t happen until the subsequent month.

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This has been added as a Feedback item.

 

Userlevel 7
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HI @bduprey51  

Have you tried using the person with the Financial Supervisor Role to Void in the period it was issued?

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I don’t want to void it in the period it was issued.  Technically, from an accounting stand point, it was outstanding at the end of the month it was issued.

Userlevel 7
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Hi @bduprey51 - were you able to find a solution? Thank you!

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@bduprey51 On the Cash Management Preferences form do you have the Skip Voided Transactions checkbox marked? 

If the check box is selected, the system skips these transactions and does not include them in the reconciliation statement. If the check box is cleared, on the reconciliation form, the system includes in the list of transactions both the original transaction and the voided transaction.

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