not recording voided checks and receivables?


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Hi, I'm the treasurer of a church, but this question actually came up concerning the audit of our county fair. The treasurer of the county fair was asked by the state auditor to not record voided checks or receivables in Quickbooks.

This seems ludicrous to me. Has anyone heard of this? Why might they have asked for such a thing?
 
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HI
it is strange i have never heard before maybe it is because of your accounting basis ?
accrual or cash it is used?
 

kirby

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Never heard of this. I have no clue as to why. If you feel you need to follow that guidance, I would first -in writing - ask the auditor for the rationale behind this.
 
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This does seem accurate, as I have always been told by auditors you need to keep a track of all voided cheques in your accounting system and to keep the actual voided hard copy cheque.
 
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Samir

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They may have not been accounting for them correctly or the entries were making the state's audit a mess.

I'd just generate reports for the state when they need them with these items taken out. I'd keep the books correct.
 

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