Void/Correct Checkbook Transactions

This page is used to void or correct Checkbook Adjustments, Deposits, and Transfer transactions.

Software Version: 2024.07.31 and newer

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Process

Fields

Description

Date

A non-editable text box that identifies the GL Date of the source transaction.

Effective Date

A date picker to identify the date that will be used for the Void or Correction. This defaults from the source transaction, provided the source transaction’s ‘Date’ is in a Fiscal Period that is open for Financial, otherwise it defaults to blank. This is required, must be >= to the source transaction’s ‘Date’, and must be within a Fiscal Period that is open for ‘Financial’.

Option

A single select lookup to identify the action to be taken. This defaults to blank and is required to process the Void or Correction. The options include:

  • Correct - Voids the original transaction and creates a new unposted clone of the original transaction that can be corrected and re-posted.

  • Void - Voids the original transaction.

    • Adjustments: Voiding an adjustment auto generates and posts a reversal of the source transaction using the ‘Date’ specified. This process results in a pair of Adjustment transactions, and corresponding journal entries, that net out to zero, even though they may be from different GL Periods.

    • Deposits: Voiding a deposit: 1) Removes all the associated Payment Receipts, 2) Updates the Deposit Status to “Void”, and 3) Reverses any associated Currency Gain/Loss journal entries, using the same process as the Reverse Journal Entry.

    • Transfers: Voiding a transfer auto generates and posts a reversal of the source transaction using the ‘Date’ specified. This process results in a pair of Transfer transactions (Transfer: Sent and Transfer: Receipt), and corresponding journal entries, that net out to zero, even though they may be from different GL Periods. Note: For Transfers with different currencies the reversal (voided) transaction will always use the exchange rate from the source transaction.

Transaction

A non-editable text box that identifies the ‘Transaction Type’ of the source transaction.

Transaction Type

A non-editable text box that identifies the Transaction ID of the source transaction.

Reconciliation Details

The purpose of this grid is to show reconciliation details for the source transaction. This grid is only populated if the source transaction being voided or corrected has been reconciled. This is for information purposes only, none of the fields are editable.

Fields

Description

Amount

Identifies the amount of the source transaction.

Database Field: ERPx_MFCheckbookTransaction.Amount

Cleared Amount

Identifies the amount of the source transaction that was reconciled. This will match the ‘Amount’ unless the bank cleared the transaction for a different amount.

Database Field: ERPx_MFCheckbookTransaction.ReconciledAmount

Date

Identifies the ‘Bank Balance as of’ date from the reconciliation.

Database Field: ERPx_MFCheckbookReconciliation.BankBalanceDate

Reconciliation

Identifies the Transaction ID of the Reconciliation that includes the source transaction.

Database Field: ERPx_MFCheckbookReconciliation.TransactionID

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