I entered a small payroll check in Dec 2007 which was lost by the employee. However I didn't know this until after the W-2 was prepared and the 2007 books closed (I have version . Can I void this check now and reissue a new check? If so, how will that affect the 2008 checking account, salary account and tax withheld account in the general fund? I kept the same accounts numbers from 2007 to 2008.
I could "pretend" that the check cleared the bank, write another check and post to my misc. expense account to avoid my salary and tax accounts being effected for 2007 and 2008. However, my checking account and bank reconciliations would not be correct for the rest of the year.
Just void the check in the Payroll Module and then write the new check using the same gross pay and withholding amounts. Post both the reversal and the new check to the same accounting month. The reversal and the new check will net to zero so there will be no net impact on your 2008 salary and tax accounts.
. Can I void this check now and reissue a new check? If so, how will that affect the 2008 checking account, salary account and tax withheld account in the general fund? I kept the same accounts numbers from 2007 to 2008. 