Voiding Drafts

You void a draft if the draft has been dishonored or was lost or stolen and you want to reopen all the items associated with the draft.

You can void a draft after it has been approved, but before you reconcile it on a bank statement. For example, you could void a discounted draft before the due date plus the risk days (the number of days that the bank waits before it notifies you that the customer failed to pay).

After you select drafts to be voided, run the Receivable Update process to:

• Create accounting entries.

• Update the activity table.

• Change the draft status to Void.

Use the Void Draft Selection page (DRAFT_DISH_SEL_IC) to build a void draft worksheet.

Navigation:

Accounts Receivable > Drafts > Void Drafts > Void Drafts Create Worksheet > Void Draft Selection

The fields on this page are similar to those on the Dishonor Draft Selection page.

Instead of entering bank criteria, you enter values in the Status Criteria group box.

Use the Void Draft Application page (DRAFT_DISH_WORK_IC) to select drafts that you want to void.

Navigation:

Accounts Receivable > Drafts > Void Drafts > Update Void Draft Worksheet > Void Draft Application

The fields on this page are the same as those on the Dishonor Draft Application page.