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QuickTips™: Voiding vs Deleting Checks by QuickBooks® Made Easy™



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made easy calm and this month's tip

d'lai 2013 is on voiding versus deleting

checks so we all have checks that for

whatever reason don't clear oh and by

the way I'm going to teach using version

2013 but it doesn't matter what version

you have you can even have QuickBooks

Pro of three years ago and this is still

going to apply to you but in it so we

all have transactions checks that for

whatever reason don't clear we know

about them because we always see them

every month when we go to a bank rec the

system here my computer thinks it's 2017

and these are all transactions in 2017

but look at this one from 2012 that

hasn't cleared in five years so what do

we typically do when we see those all

transcends transactions and you have

then we all have them you just basically

what we blow it off right and just click

the other ones ago I wonder what it took

and clear oh well well this is what I

want to talk about we got to get rid of

these transactions that are old that are

never clearing because they're they're

making your books wrong this is

subtracting $3,000 out of the bank

account that's never going to actually

be subtracted in real life so we want to

get rid of them so how do we get rid of

these things

well there's a couple of possibilities

you can either delete the check or you

can void the check I'm going to pull up

another check here right so here's a

check to Cristina Falco for one hundred

and fifty dollars and first of all where

do you go to delete or void well what

you do is if you have version 2012 or

older you won't have a delete button

here you'll have to go over here to edit

and in 2012 or older this is where you

go to delete the check and this is where

you go to avoid the check and by the way

that's true for all kinds of transaction

windows in QuickBooks if I go to a

little sales receipt form here if you

have the nonprofit Edition it might be

called a donation receipt but it's the

same thing pull it up on the screen

edit here's where you can delete and

here's where you can void so it's like

that it's like that on invoices too but

anyway that's just a little I like to go

on tangents but anyway that's the now

you know how to delete or void anything

in 2013 you don't have to do it over

there you can do it over here here's a

little X and the default position is

that it'll eat it but actually I'm going

to tell you that nine times out of ten

you're going to want to avoid something

not delete it see this little arrow

right here if I click the arrow you'll

see delete void okay so when do you want

to delete and when do you want to void

well for one thing we do want to get the

transaction out of here because it's

right now it's reducing our bank account

by $150 when it shouldn't because the

checks never going to clear regardless

of whether you delete or void that is

going to happen the difference is if you

void let me show you what happens if I

voice take a look at this check before I

void it has all the information about

the check everything's there when I go

to void it everything is still there

check 1964 is still there it still says

who it's to the day it even has the

expense account and supposed to go to ok

they'll end the memo the only thing it

doesn't have is a dollar amount it's

changed to zero so what happens when you

voy a check guys is it basically just

edits the check and it basically changes

the dollar amount oh and it adds the

word void here in a memo they're hoping

that you put why it is that you voided

the check and there's tons of reasons

why you want to get rid of checks maybe

they were lost maybe they got stuck in

the printer or something like that so

they put this little void here and they

want you to put something in the memo

you don't have to but I think it's

probably a good idea to so all it's

doing is editing the check not a big

deal here okay and that's good because I

want to keep a record of check 1964 I

want to remember what happened to that

check so here's the thing if you delete

a check instead avoiding it it's going

to remove the check altogether there

will be no record of it so that's why

I'm telling you nine times out of ten if

you want to make a check go away because

for whatever reason it's not going to

clear you'll want to avoid it you don't

want to delete it

because if you delete it there will be

no record of as a matter of fact

QuickBooks is so freaked out about it it

gives you a warning are you sure you

want to do that so nine times out of ten

you want to void if the check ever

existed you want a record of it you'll

want to avoid it the only time you want

to delete it as if maybe the check was

entered twice then there really isn't

two checks in real life there's only one

okay so rare that you'd want to delete

usually you want to void okay so I'm

going to go ahead and void this well I

already did actually I haven't

I've voided it so that the change the

dollar amount to zero but the void

doesn't actually go it doesn't actually

get recorded in QuickBooks until you

click this save and close now I will

tell you one thing before I click void

since I'm about to click Save and close

and all I've done is edited the check I

could have done it manually by just

changing the dollar amount to zero and

typing void it didn't change the date

which means it's basically going to

change the check to zero as of the

original date of the check so basically

what it does is it voids it in the

system as of the original date the check

was written okay now that's why this

window pops up that you may see and

basically what it's warning you is it's

it's got this real weird wording to

maintain the accuracy the financial

reports and balance the accounts

affected by the QuickBooks can create a

journal entry in the earlier period and

reversing journal entry in the current

period would you like QuickBooks to void

the check and enter appropriate sure

okay so basically what this is saying is

if the thing that you're voiding is in a

prior year in other words the audits

already been done the 990 has already

been done if you're a non-profit or the

tax return has already been done if

you're a for-profit you don't want to

void the check as of the original date

because that's going to change the

financials in the older year so you

don't want to do that you want to avoid

it in the current year well if you click

no just void the check it's going to

avoid it in the current year and you can

do that if the check was just written

but if it's in a prior month a prior

year you want to click yes and what

that's going to do is it's going to

basically it's going to void the

check but then it's going to do journal

entries to basically make the prior year

stay the same and void it in the current

year so you don't mess your books up

once the year is closed you've done the

tax return you don't want to change the

financials in that prior year okay so

I'm going to click yes and basically

what it's going to do is oh it's asking

me for a class if you are a non-profit

you're probably using classes so click

here then we'll go ahead and void it and

so basically what that does is it voids

the transaction by the use of journal

entries I won't go into the specifics of

what it does but it voids the

transactions by using journal entries so

that it voids it in the current year not

the prior year so one last thing I'm

going to show your report here this is a

really cool report I want everybody

who's listening to me to do this to your

data file go to reports go to banking

and go to missing checks this report is

kind of miss named it sounds like it's a

list of checks that are missing but

actually it's a list of all your checks

except for the ones that are missing

because it's in check order it's a great

report to look at to see if you have any

missing checks alright so and let me

just tell you if I'm you're if I'm doing

an audit on you I I want to make sure

that every one of your checks is

accounted for that's why I want you to

void instead of delete that check that

we voided before um here it is right

here check 1964 this is the check we

voided see it still here says void okay

so that's good you should not have any

of these missing check entries right

here you shouldn't have any of those all

right here's check 1903 this is a

mistake that check 1903 is a real piece

of paper something happened to it if I'm

your auditor I don't know what happened

to it so that's why you want to check

and see if you have any missing numbers

you want to enter that check for 1903

and then void it so you have a record of

it alright so the only time you would

have missing numbers that maybe you

wouldn't do anything about

is if you have like an old check like

maybe these are old check numbers and

then you replace them when you ordered

new checks you went to a new later

series you went from one thousand to

five thousand or something like that but

usually you wouldn't have that and the

other thing that this report does it's

really cool is it shows you if there are

any duplicate check numbers so here's a

duplicate one nineteen fourteen nineteen

fourteen it was entered as a bill and

then paid and then it was entered as a

check so I this is perfect example of

when you would want to delete a check so

I'm going to go over here click delete

yes I am because the check was inner

twice and I am done so be sure to look

at this missing checks and see if you

have any missing checks and if you do

like this 19:03 go ahead and enter them

and then void them okay so I think

that's it again you can find me on

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