About voiding payments

To cancel a completed or in-progress payment, you need to void the transaction. Voiding the payment reverses its effect on the General Ledger and adds a balancing transaction to the Posted payments list. You can void a completed payment provided the payment is in an open period.

How voiding a payment works in Sage Intacct

You can void Accounts Payable payments from the Posted payments page. Alternatively, you can also void payments from the register that corresponds to the payment method you used, such as the check register or credit card register.

Voiding a payment reverses its effect on the General Ledger while leaving an audit trail of the original payment. When you void a payment, the following happens:

• Sage Intacct changes the status of the payment from Complete to Voided.
• A negative-value balancing entry is added to Posted payments, also with a Payment status of Voided. This creates a net effect of zero.
• Both transactions are given a Cleared status of (Void).
• The bills in the payment are available to be paid again in Pay bills, unless you reversed them when you voided the payment.
• Any credits that were applied as part of the payment are unapplied and are available for selection again in Pay bills.

Example of voided transaction

Vendor name	Payment status	Payment amount
Paperclips	Voided	(300.00)
Paperclips	Voided	300.00

The reversing entry is treated as a new payment and is placed into its own payment summary, based on the auto summary frequency. The title of the summary is prefaced with the word "Reversed".

Things to know about voiding payments:

• You can't void a payment that's in a closed period. In this case, either you need to open the summary and reconciliation, then void the payment, or date the void action on the next date available in an open period.
• You need to void payments in the entity where they were created.
• Void actions cannot be edited or undone.

Reversing bills when voiding payments

If you are voiding a payment because the bill itself was invalid, you can sometimes reverse the bill at the same time. When you reverse the bill, Sage Intacct creates a reversal transaction to balance the reversed transaction. The amount for the reversal is the balancing amount of the reversed bill. Reversed bills remain in the bills list but are not available for payment and do not affect the vendor balance.

Voiding an in-progress payment

To cancel an unconfirmed check or a pending ACH/bank file payment, void the payment where you generated it.

Void processes for different payment methods

Payment method	Void process
Unconfirmed check	If the check was printed individually, void the check in Print checks. If the check is part of a run, void the check from the check run.
Pending ACH payment	Void the payment from within the ACH payment file. If you're using a NACHA-compliant bank file, follow the procedures for bank files.
Pending bank file payment	Void the payment from within the bank file.

After you void an unconfirmed payment, it appears in Posted payments as a voided payment with an amount of 0. The amount reflects the fact that the payment never posted to the General Ledger.