Today I had to void a large check that was written in November of 2007. I followed PowerChurch instructions by changing the working month, voiding the check and posting only that check in Fund Accounting. Everything worked and it posted to the correct month. My problem is with the bank recons. Now my balance sheets from November until April are off by the amount of that check. Is there any way to update the recons other than just attaching an explanation?
Thanks.
Voiding check from previous year
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Voiding check from previous year
Another Way to See Church
Voiding check from previous year
Thanks for the quick response. No, the check didn't clear the bank. Am I missing something? Would it have been better just to void it as I received it rather than trying to go back and post it to the month it was written?
I am a little confused.
THanks.
I am a little confused.
THanks.
Another Way to See Church
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Zorak
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I'm sorry if I confused the issue. I thought your question was specifically about the bank reconciliation reports.
Yes, posting the void to the original month is correct, and yes, it will change your month end Balance Sheet, Income & Expense, etc. for that month. Hopefully, an explanation of a voided check will be enough.
Someone who has experience in the position may want to chime in at this point, with words of wisdom...
Yes, posting the void to the original month is correct, and yes, it will change your month end Balance Sheet, Income & Expense, etc. for that month. Hopefully, an explanation of a voided check will be enough.
Someone who has experience in the position may want to chime in at this point, with words of wisdom...
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John Staudt
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Voiding prior check
The unanswered question -- was the check voided because it was in error, and the associated payment was supposed to be canceled?
If so, the balance sheet values should change moving forward.
Or, was it voided because it was lost or needed correction?
If this is the case, you don't want the balance sheet totals for your expenses and available cash to change, since this is an outstanding liability from (at least) the time that the original check was issued until you issue a replacement check. One way to correctly show this liability:
If you don't already have one, create a liability account for reissuing such checks in your chart of accounts.
In your fund accounting module, on the date of the voided check, enter a transaction identical to the posted entry for the original check (i.e., debit the expense account), only you credit the liability account instead of a checking account. In the memo section, you can note that this liability is due to the voided check (with number). -- post the transaction.
When you reissue the check, you then debit the liability account.
Hope this helps.
If so, the balance sheet values should change moving forward.
Or, was it voided because it was lost or needed correction?
If this is the case, you don't want the balance sheet totals for your expenses and available cash to change, since this is an outstanding liability from (at least) the time that the original check was issued until you issue a replacement check. One way to correctly show this liability:
If you don't already have one, create a liability account for reissuing such checks in your chart of accounts.
In your fund accounting module, on the date of the voided check, enter a transaction identical to the posted entry for the original check (i.e., debit the expense account), only you credit the liability account instead of a checking account. In the memo section, you can note that this liability is due to the voided check (with number). -- post the transaction.
When you reissue the check, you then debit the liability account.
Hope this helps.
-- John Staudt