Guide to check a void in Quickbooks

In QuickBooks Online, properly voiding checks keeps your bookkeeping records correct. As a result, your company is protected against fraud and your financial statements are always true.

Although deleting a check has the same effect on your financial accounts as voiding one, it also jeopardizes your recordkeeping and opens the door to future mistakes. Deleting checks makes it more difficult to identify fraud on your account. A check should only be eliminated if a duplicate entry was entered by mistake.

The method of voiding a check in QuickBooks Online is simple. It only becomes complicated when you need to invalidate a cheque written in a previous accounting year. If you're unsure about voiding a check written in a prior year on your own, contact a QuickBooks ProAdvisor or a bookkeeper or accountant who is familiar with QuickBooks Online. They will be able to guide you through the process of correctly voiding your individual transaction so that your bookkeeping remains accurate.

What does it mean to invalidate a check?

When you void a paper check, it indicates that the cheque is no longer valid for payment. This applies to both the physical check and the check number connected with it.

Simply putting "VOID" on a cheque provides some fraud protection. However, clever fraudsters can still utilize the information on the check to make bogus checks or set up electronic payments and transfers on your account. As a result, you must exercise extreme caution when it comes to preserving canceled checks. The best approach to safeguard these checks is to destroy them or securely file them.

Also Read: What is QuickBooks error 6144 82- Causes

Choosing between voting and deleting

From an accounting standpoint, there is no distinction between voiding and removing a check in QuickBooks Online. Both voting and deleting do the same thing: they eliminate the transaction's impact on your financial statements. From a recordkeeping standpoint, voiding a check is preferable to deleting it.

Assume you made a $150 payment to the business that cleans your workplace using check #1223. When you offer your payment to the cleaning crew's leader, she informs you that you have been granted a loyalty discount, and your service is now only $135 per week.

QuickBooks Online check cancellation instructions

In QuickBooks Online, voiding a check is simple. Not only do voiding checks keep your profit and loss statement and Check Register accurate, but it also assures that your A/P records are always accurate if you use QuickBooks Online's accounts payable tools correctly.

• Find the void a check in Quickbooks that you wish to invalidate. The Check Register is the simplest way to accomplish this. From the Dashboard, either (a) choose Banking from the left-hand toolbar or (b) select the bank account from the Bank Accounts section on the right side of the screen. left-hand toolbar or (b) select the bank account from the Bank Accounts section on the right side of the screen.

On the following screen, click "Go to Register."

Use the criteria if necessary to find the check you wish to void:

• In the Register, click the check line, then the Edit button.
• At the bottom of the following screen, click More, then pick Void.
• In the dialogue box, click the "Yes" option. The notice indicates that the check was used to pay a bill. When you select Yes, the payment is canceled and the bill is modified in your A/P reports to display as open and due.

Also Read: QuickBooks Error Code 15218

Conclusion:

In this blog, we are providing some information about how to void checks in Quickbooks. I hope, you understand this article.