Voiding Paid Drafts

In certain situations, you might need to void a draft that has been paid. For example, you might have run the Post Outstanding Drafts program (R04803) for a particular draft in error.

To void a paid draft, you must:

1. Void the draft using the Void Payment Entry program (P0413M).

2. Enter a journal entry to debit the bank account and credit the drafts payable account.

   You must create this entry because the system does not create this reversing entry for you when you void the payment.