When you void a check in QB it puts it back into cash in the period it was originally written. It is absolutely incorrect accounting to post a voided check in the current period back to the period in which the check was actually written! A voided check should be voided on the day you void the check. Otherwise you are changing the balance sheet from a prior period. No CPA will tell you to post a void back when the check was actually written. Until you actually void the check, it is properly shown as a cash payment. Once voided the entry is to debit cash (on the day of the void ) and put it back into AP. QB Please correct this! You guys are killing me!
