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Void check for Previous year and current year wihout effecting reports

How Void check of Previous year

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Can any one pls let me know how to void checks of previous year and current year with effecting any Financial reports. also pls help me with the journal entries as per US GAAP.

Thank you.


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By tom123
13th May 2016 15:40

These two things are mutually exclusive. If you raised, and recorded, a cheque, which never cleared, your bank balance would have been understated, and your purchase ledger or expenses similarly affected.

If the amounts are relatively small, then surely you would just make the adjustments in the current year, the same as you would for a credit note or similar?

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By stepurhan
13th May 2016 15:49


The layout may have confused you, but this is the UK site.

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By lionofludesch
14th May 2016 10:10

Yes - "check" made me wonder about the US too.

But I dare say it's the same thing. If I was writing cheques back, I'd just treat them as deposits.

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