Voiding Payments
Occasionally, you might need to void a payment and issue a replacement payment for it. For example, during the process of printing the reports for a payroll cycle, you might discover that an employee's pay rate is incorrect. You can finish processing the payroll cycle and then issue a replacement interim payment for that employee. To correct the employee's payroll history, you can void the payment that you printed for the employee during payroll cycle processing.
When you void a payment, the system reverses all of the associated transactions in the payroll history, including employee and employer-associated transactions. The check date is the general ledger date for reversing entries that are associated with the disbursement, such as the credit to cash and tax liabilities. The time entry date is the general ledger date for reversing entries that are associated with timecards, such as labor distribution. The time entry date is also the work date on the reversing timecard.
When you void a check, you can choose to reissue (reprint) the check. You should select the reissue option only if the replacement check contains the same information as the original check. For example, if an employee fails to receive a check in the mail or if a check is accidentally destroyed, you can reissue the check. The replacement check contains the same information as the original check, except that it has a new check number and date.
When you void an automatic deposit, use dates that affect only the current accounting periods and the current tax-filing period. You cannot reissue an automatic deposit; instead, you must contact the financial institution and request that the transaction be canceled. When you void an automatic deposit, the system does not:
Update the automatic deposit tape.
Create an accounts receivable entry for the employee.
The system stores the voided payment as an interim payment. When you process the voided payment in a payroll cycle, the system updates the reversing entries.
The system retrieves the information from the F06156 table when you void a payment.
This table lists tasks that you might also need to complete:
Related Task |
Description |
|---|---|
Restoring a voided payment |
If you inadvertently void a payment that should not be voided, you can select Unvoid a Void from the Form menu on the Payment Review and Void form to cancel the void. When you unvoid a payment, the system removes the information in the following fields on the Work with Payment History form:
|
Voiding part of a payment |
You might occasionally need to void, or reverse, a specific amount that represents part of a payment, rather than the entire payment. This type of void is called a manual void. To enter a manual void, use the Interim Entry form. You cannot use the Void Cheque window to enter a manual void. |