Void a manual payment
If you need to make a change or remove the manual payment after the fact, void the payment to reverse its effect on the General Ledger.
When you void the payment, you automatically reverse the associated bill. Reversals can't be undone.
Voiding a payment reverses its affect on the General Ledger and leaves a record of both the original and voided payment. Sage Intacct creates a new transaction that's the reverse of the transaction you are voiding. In other words, the transaction is not zeroed out, and so there's an audit trail. This produces a net effect of zero for that transaction.
The reversed entry is treated as a new payment, and that reversed manual payment is placed into its own payment summary based on the auto summary frequency. Both transactions are labeled as Voided, however there are now two: the original positive one and the new negative reversing one. The title of the summary contains wording similar to "Reversed Quick Payments."
Intacct also reverses the bill that's associated with the voided payment in a similar manner, leaving two bills: the original positive one and a new negative reversing one. Both are labeled as Reversed.
You can't void a payment that's in a closed period. In this case, open the summary and then void the payment. If the payment is reconciled, reopen the reconciliation.
| Subscription |
Accounts Payable |
|---|---|
| User type |
Business Employee |
| Permissions |
Manual payments: Void, List |
-
Go to Accounts Payable > All > Payments > Manual payment.
- Find the manual payment you want to void.
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Select More actions > Void at the end of the row.
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Select a Void the payment on date.
Enter a date that is on or after the transaction date.
- To save a note with the General Ledger entry, enter it in the Memo box.
- Select Submit.
-
Go to Accounts Payable > All > Payments > Manual payment.
- Select Void beside the manual payment to remove.
The Void payment date page appears.
-
Select a Void the payment on date.
Enter a date that is on or after the transaction date.
- To save a note with the General Ledger entry, enter it in the Memo box.
- Select Submit.
