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FAQ: How do I void an Accounts Payable check for an invoice expensed in the prior fiscal year?

To void an Accounts Payable check for an invoice expensed in a prior fiscal year, complete the normal process for voiding a check, being sure to complete the Reversal Option field.  The Reversal Option field is only enabled when voiding an Accounts Payable check that was written in a prior fiscal year or contains invoices that were expensed in a prior fiscal year (from operating on an accrual basis or expensing invoices at the end of the fiscal year; does not apply to invoices that were reverse GAAP expensed).

In the Reversal Option field, specify which entries to make when voiding the check.  The reversal options include:

  • Debit Cash and Credit Expense in specified Void Processing Month – debits the appropriate cash account(s) and credits the account number(s) entered on the invoice(s) in the specified processing month.
  • Debit Cash and Credit Refund of Prior Years’ Expenditures Account in specified Void Processing Month – debits the appropriate cash account(s) and credits the Refund of Prior Years’ Expenditures Account from the Fund File for the applicable fund(s) in the specified processing month.
  • Debit Payables and Credit Expense in original Processing Month, and Debit Cash and Credit Payables in specified Void Processing Month – debits the Accounts Payable Account from the Fund File for the applicable fund(s) and credits the account number(s) entered on the invoice(s) in the original processing month, and also debits the appropriate cash account(s) and credits the Accounts Payable Account from the Fund File for the applicable fund(s) in the specified processing month.

    Tip:      If the check contained invoices that were expensed in a prior fiscal year and some that were expensed in the same fiscal year, the reversal option is only applicable for the invoices that were expensed in the prior fiscal year.

Note:  For Iowa school districts only, if the check included an invoice that was reverse GAAP expensed and the system was not able to post correcting reverse GAAP expensing entries for the invoice, a prompt will appear (after clicking the Execute button) stating the check contained reverse GAAP expensing entries and manual journal entries may need to be completed; in that case, enter manual journal entries (being sure to select the Reversing GAAP field on the batch options screen for the manual journal entries batch) debiting the appropriate Accounts Payable balance sheet account number(s) and crediting the appropriate expense account number(s).

For step-by-step instructions on voiding a check, refer to the Voiding a Check topic in the Help File.