Voiding checks on QB Pro 2001


G

Gail

Hello Everyone,
I desperately need some help. We use an outsource bookkeeper at work,
who has recently changed. We seem to be having a problem with the
voiding of uncleared checks after the bank reconciliation has been
completed. I have tried to find the QB 2001 manual and searched
everywhere on the web, to no avail.
I think we need to issue a journal to void the check, the bookkeeper
has other ideas and just 'Voids" the checks making them a zero item.
Does anyone else use QB 2001 and have the answer for me? I do know
that once the rec. has been done you cannot 'void' the checks in this
way.
Any suggestions would be greatly appreciated.
Gail
 
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N

N Owen

Hello Everyone,
I desperately need some help. We use an outsource bookkeeper at work,
who has recently changed. We seem to be having a problem with the
voiding of uncleared checks after the bank reconciliation has been
completed. I have tried to find the QB 2001 manual and searched
everywhere on the web, to no avail.
I think we need to issue a journal to void the check, the bookkeeper
has other ideas and just 'Voids" the checks making them a zero item.
Does anyone else use QB 2001 and have the answer for me? I do know
that once the rec. has been done you cannot 'void' the checks in this
way.
Any suggestions would be greatly appreciated.
Gail
Gail-There is no problem with the way your bookkeeper is doing it, EXCEPT
for two instances:

1. Possible problem if financials are for an entity/association that
"approves" the financials each month.

2. For sure, at year end a journal entry would need to be done to void
check in current year, so as not to "change" YE #'s.

Not sure why you say " I do know that once the rec. has been done you
cannot 'void' the checks in this way."

HTH
 
V

Victor Roberts

Hello Everyone,
I desperately need some help. We use an outsource bookkeeper at work,
who has recently changed. We seem to be having a problem with the
voiding of uncleared checks after the bank reconciliation has been
completed. I have tried to find the QB 2001 manual and searched
everywhere on the web, to no avail.
I think we need to issue a journal to void the check, the bookkeeper
has other ideas and just 'Voids" the checks making them a zero item.
Does anyone else use QB 2001 and have the answer for me? I do know
that once the rec. has been done you cannot 'void' the checks in this
way.
Any suggestions would be greatly appreciated.
Gail
Isn't there a VOID function in the Edit menu of check register? There
is in my copy of QB2002 Basic. This would be preferable to changing
the check amount to zero.
 
V

Victor Roberts

But that's what "Void" does - it changes the amount to zero.
That is all you see, but it also marks the check as void and pre-marks
it in the reconciliation register and may mark it in other ways that
just changing the amount to zero does not.
 
A

Allan Martin

Gail said:
Hello Everyone,
I desperately need some help. We use an outsource bookkeeper at work,
who has recently changed. We seem to be having a problem with the
voiding of uncleared checks after the bank reconciliation has been
completed. I have tried to find the QB 2001 manual and searched
everywhere on the web, to no avail.
I think we need to issue a journal to void the check, the bookkeeper
has other ideas and just 'Voids" the checks making them a zero item.
Does anyone else use QB 2001 and have the answer for me? I do know
that once the rec. has been done you cannot 'void' the checks in this
way.
Any suggestions would be greatly appreciated.

The information you supplied us is insufficient for a proper answer. Details
about how old the checks are, weither or not these checks recorded an
expense directly or reduced accounts payable, and if applied against
accounts payable if you intend to reissue the check.
 
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J

JerryMouse

!-! said:
But that's what "Void" does - it changes the amount to zero.
There's a difference between a check for zero and a void.

When I get a statement from a vendor that reads:

(Product) some-amount
(Paid) some-amount
Total due: $0.00 - Please pay this amount

I sometimes send the vendor a check for $0.00.

Then, when the check doesn't clear my bank, I call up the vendor to find out
if they got my payment.

Don't send me zero-balance statements.
 
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F

forked tongue

Gail said:
Hello Everyone,
I desperately need some help. We use an outsource bookkeeper at work,
who has recently changed. We seem to be having a problem with the
voiding of uncleared checks after the bank reconciliation has been
completed. I have tried to find the QB 2001 manual and searched
everywhere on the web, to no avail.
I think we need to issue a journal to void the check, the bookkeeper
has other ideas and just 'Voids" the checks making them a zero item.
That would be correct.
Does anyone else use QB 2001 and have the answer for me? I do know
that once the rec. has been done you cannot 'void' the checks in this
way.
You said the check was un-cleared, this is the proper way to void. It
marks the check cleared as it is because it never will affect your bank
statement.
Any suggestions would be greatly appreciated.
Gail
There are only a few reasons you should be voiding a check. What are
the details in your situation?

If the check never left your office void or even delete are correct.
They both un-pay whatever it was that you created the check for in the
first place. Depending on how GAAP you are, or how picky your auditors
are about unbroken numeric sequences, notes may need to be placed in
files explaining it and they would prefer void over delete.

If the check is lost and you are issuing a replacement void is
acceptable, you may need to date the replacement the same date as the
missing instrument to avoid upsetting reports that have been printed.
If that in not possible because the check would be stale then you get
into journal entries in addition to the void. This is common so it
doesn't raise red flags. [we just had the argument on check dates in
another thread] Also remember GAAP is about amounts that are "material"
to the financial statements, so moving a $10.00 check to a different
period isn't a big deal. Moving a check for 10% of your gross revenue
is another matter.

If you are voiding because the payment isn't going to be made you will
need journal entries to explain why the payment isn't being made. Say a
vendor sending you back your own check because he is also a customer.

Also consider that in the memo field after the VOID: you can enter the
reason for the void and what other actions take place because of it.
e.g. Lost in mail, Check #1234 issued as replacement.
 

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