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Void an Operating Bank Transaction
Void Transaction Feature
The void function in the application can be used to record:
- NSF (bounced) checks (from clients or vendors)
- Firm checks voided due to errors
- Stale dated check reversals
- Checks for which you have stopped payment
Caution: The steps below only apply to non-integrated operating deposits (deposits without the credit card icon).
Locate the Transaction
- From the left navigation panel, click Banking.
- Double-click the operating bank to scroll to the transactions area.
Void the Transaction
Note: If you are voiding a transaction which was recorded as an invoice payment, you must unlink the payment from the invoice prior to proceeding. Click here for instructions for unlinking payments from invoices.
- From the transaction area, Single-click the transaction, click on the three dots at the end of the row and from the drop-down, click Void Transaction.
- From the Void Date field’s drop-down, choose the void date.
- In the Memo2 field, document the reason for the void.
- Click Advanced Settings.
- Review to ensure proper void option is selected
Caution: We recommend working with your accounting team to determine when to utilize each option. The impact on your prior reconciliation reporting will differ depending on whether you maintain the original amount for voids that occur in a different month or whether you zero out the original transaction.
| Maintain Original Transaction Amount (default) |
|
|---|---|
| Change Original transaction amount to $0.00 |
|
- Click Save.
The system warns you are about to void a transaction and asks you to confirm you want to continue. - Click Yes.
The system voids the transaction, updating its status from Entered to Posted and its Type to Void Adjustment In.