Uncleared checks

Lily · Post by **Lily** » Mon Mar 31, 2008 8:44 pm

Hello Jeff,

I'm a newcomer to the forum. Been blessed viewing the questions and answers and have not come across these two questions or anything that seem to relate to these questions. The version I have is 9.

At the accounting setup checks not cleared were listed. It's pass 6 months and one check has not cleared and I would like to void the check out and Debit the Bank Account. I know I would need to credit an expense account to balance. Would using miscellaneous expense be sufficient?

The other question: Is doing a reverse on a posted entry a procedure that needs to always be done or can I do the following:

Posted was: 01-1110-000 Credit $100
01-1270-000 Debit $25 when it should be Debit $27.50
01-1280-000 Debit $25 when it should be Debit 22.50
01-1290-000 Debit $50

Can I just make the adjustments 01-1270-000 Debit $2.50 and
01-1280-000 Credit $2.50

I'm a jack of a few trades and a master of some. This is a challenging trade but yet I look forward to mastering. Looking forward to hearing from you. Have a great day!

Lily know as Fran

tborgal · Post by **tborgal** » Mon Apr 07, 2008 7:29 pm

When you void a check, the transaction is reversed. The bank is debited and the account the check originally debited is credited, so you need not do anything other than VOID the check and post it.

As far as the posted transaction correction - yes you can do the adjustment to just 1270 and 1280. I would be very clear in the explanation as to what and why you are doing it however.

Lily · Post by **Lily** » Tue Apr 08, 2008 4:53 pm

tborgal wrote:When you void a check, the transaction is reversed. The bank is debited and the account the check originally debited is credited, so you need not do anything other than VOID the check and post it.

As far as the posted transaction correction - yes you can do the adjustment to just 1270 and 1280. I would be very clear in the explanation as to what and why you are doing it however.

Mahalo (Thank YOU!) Tom. Appreciate your response.

beas · Post by **beas** » Wed Apr 09, 2008 10:05 pm

Here's what I do when this happens: void the check and then re-enter it correctly under the same check number as a manual check. I have found this is cleaner than trying to make the journal entries. This will give you 3 entries in your check register when you reconcile. One will be the original check, one will be the voided check, and one will be the manual check you re-entered. So, the original check and the voided check wash, leaving you with the manual check which is correct.