How To Void a Check in NetSuite

🚨 Problem: Voiding a check in NetSuite can be necessary for various reasons, such as errors in the check or the need to cancel a payment. This tutorial will guide you through the process of voiding a check, ensuring your financial records remain accurate.

Steps to Void a Check

1. Search for Checks:
   • 🔍 Go to the search bar and type ‘page: checks‘.
   • 📋 This will bring up the list of checks.
2. Select the Check to Void:
   • ✅ From the list, select the check you want to void by clicking on “View.”
3. Void the Check:
   • 🖱️ Click on the “Void” button, available at both the top left and bottom left of the page.
4. Handle Voiding Journal Entry:
   • 🔄 The system will generate a reversing journal entry to void the check. This ensures the general ledger impact of the check is canceled out.
   • ⚙️ If the voiding journal entry page does not appear, you may need to enable the setting for voiding transactions using reversing journals. Refer to the NetSuite documentation for more details.
5. Confirm and Save:
   • 📝 The system will prompt you to enter a justification for voiding the check (e.g., “Closed for the demo only”).
   • ✅ Click “Reopen Period” and confirm the action.
   • ⏳ Wait for the process to complete and the system to confirm the transaction is successfully saved.

Additional Considerations

• Journal Entry Impact:
  • 📊 If voiding without a reversing journal entry, the system sets the check status to voided and the transaction amount to zero.
• Reconciled Checks:
  • ⚠️ If the check was previously cleared, voiding it may cause inconsistencies in your account reconciliation.
  • 📉 The check will become unreconciled, and its clear status will be removed.

Final Thoughts

Voiding a check in NetSuite is a straightforward process that ensures your financial records remain accurate and compliant. Always review the details and settings to ensure the voiding process meets your accounting requirements.