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Whether using cash or accrual mode, you can void a payment if it was entered in error and posted.

If you applied the payment to an invoice, the invoice balance increases and the invoice's status changes to unpaid or partially paid. The payment's status also changes to voided, then you can void the invoice. You must void transactions one at a time, as a reversing entry posts to the General Ledger.

If you haven't posted the selected payment, Accounts Receivable skips that record, and you can delete the payment. To learn more about deleting payments, see Deleting Payments.

 To Void a Payment
  1. Under Manage Records, click the Transactions tab.
  2. Select Accounts Receivable Payments from the drop-down list and click Go .
  3. Click Add/Edit Payments.
  4. Select the payment you want to void and click Void. You may need to filter by the customer's name or select All Users and All Periods under Posting Period. To learn more about this, see Filtering Payments.
  5. When the confirmation message displays, click Yes.
  6. In the Void Payment window, under Posting Period, enter or select the General Ledger posting period for the voided transaction in the Post Month/Year field. This field defaults to the current General Ledger period.
  7. In the AR Void Date drop-down list, select or enter the void date. Accounts Receivable reports reflect this void date.
  8. In the Transaction Source drop-down list, select the appropriate transaction source.
  9. In the Void Explanation field, enter a brief explanation of why you are voiding the payment.
  10. Click Void Payment.