How do I void an outstanding check from a previous period and re-issue a replacement in the current period without having to re-state financial statements?

I understand you are not asking just how to void and reissue the check. Your accounting question which involves few steps in QuickBooks online plus or desktop version for that matter.

For this example, let us say you wrote a check to AT&T, need to void original check issued on 9/15/2013 and reissued on 12/16/2013.

Vendor: AT&T

Date: 9/15/2013

Amount: $100.00

GL Account: Telephone Expense

It takes four steps process in order not restate your financials.

Step # 1

  • Write a Journal Entry (click “plus” icon select journal entry from another menu)
  • Write a journal entry dated 9/15/2013
  • Telephone Expense (debit) — $100.00 (Name = AT&T)
  • Bank account (credit) — $100.00 (Name = AT&T)

Step # 2

  • Reverse journal entry on 12/16/2013 (that’s the day you are reissuing you new check)
  • Telephone Expense (credit) — $100.00 (Name = AT&T)
  • Bank account (debit) — $100.00 (Name = AT&T)

Step # 3

  • VOID (not delete) original check issued on 9/15/2013
  • Navigate the Check > click “More” button (located at the bottom) > enter replacement check number under description > select “VOID” > Save and close

Step # 4

  • Issue new check on 12/16/2013.
  • Make sure you use same GL account. In this example, it’s telephone expense account.
  • That should do it. Your telephone expense for September will not change. You will not see additional expense in December month.

NOTE:

When you do the bank reconciliation next time, in the Reconcile window, locate the entries that you created in steps 1 and 2 (one will appear on the Checks and Payments side, the other on the Deposits and Other Credits side). Click next to each entry to mark it with a check-mark.

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