Find out why check voiding is important within your accounting software and also the general process for voiding checks.
A check should be voided if you still have it in hand and the amount is incorrect, issued to the wrong provider or bank, or the invoice should not have been paid. Once a check has been voided, a record of that transaction remains in the system. If you have already sent the check, you should only void the check if you never received it and need to send a new one.
The void check function is used to cancel an existing payment transaction. If the check was used to pay an invoice, voiding that check will also reverse the payment of that invoice, returning it to an unpaid state. Once the open invoice has been restored, it will be displayed again in the open invoices and in the vendor aging reports. If the original check was posted without applying it to open invoices, the voiding process will also void the expense portion of the check.
If a check number was not previously registered, because the check was destroyed before entering the system, it will have a space in the sequence numbers. If your business likes to post all check numbers, it is good practice to record and void that check in your accounting software. That way you won’t question the missing check number later as it will be posted within the system.
