So after reading this entire "help" forum, I'm now more confused than I was before I looked at this forum!
1. FIrst, an answer another Bookkeeper gave to me to avoid all this hassle is to do this: Issue another check outside of QB, then simply change the check number of the old original check instead of voiding it and list in the memo "check reissued on MM/DD/YYYY as replacement" and leave the original check date for the closed period in tact so it doesn't mess up reports.
I know this isn't the correct way, but its the only way to get around the mess that QB wants us to make. And to be clear, this is for straight check payments (including W2 payroll), but does not include any payments made against Account Payables.
But I'm very confused either way as I've been trying to find a better way. Can someone please answer:
What is the way to reissue payment for something that is already included in prior tax years as an expense? My understanding is that all entries from the bank ledger will show on Cash Basis PnL reports (provided to accountant for tax return) regardless of them marked cleared.
I have checks that were issued in 2021 and 2022 that never cashed. My Balance Sheet as of 12/31/22 does not match to my bank accounts because of these outstanding checks. I'm very concerned and confused on how to fix the 2021 outstanding checks especially now that were in 2023???
