Currently when voiding a check it voids it to the period the check was written. If you have already closed that period and reconciled your bank statement and you void a check a month or so later and it goes to the period written, your previous records are incorrect.
by: judy S. | over a year ago | Accounts Payable
Comments
Same for AP invoices. You should be able to void the invoice in the current period, not forced to do so in the original period, so not to alter previous financials.
I totally agree... this is one the most frustrating issues I have dealt with in Sage100.
This is a no-brainer - huge benefit.
Absolutely ridiculous that it voids to the original period. Such an accounting no-no!!
My question to Sage is this: When will you fix this issue? It is a huge accounting no-no! Sage needs to get on this issue now and fix it, I have been asking about this for over 6 years now.
This just happened to me and it's maddening! It's affecting my cash flow projections worksheet too! Almost lost my mind trying to figure it out until I remembered I had to void a lost check from May to get it reissued. How has this not been addressed previously?! We can't be the only ones realizing what a HUGE issue this is! And I can't even post a JE to correct it since the system won't allow manual posting to A/P. Guess I will post it to Accrued Expenses and reverse it this month so at least my cash flow projection is correct.
When this first happened to us, I thought to myself "who in the world would do that?". As Leslie pointed out, this is a no-no! When we do it, I have to create a journal entry to negate the affects of the voided transaction, then reverse that transaction in the current period. So I created 2 transactions in order to void 1 transaction.
I'm a new user (within the past couple months) and I am relieved to find I'm not the only one who is cringing at this... but not relieved to hear it has not been addressed yet. This is ridiculous. If anyone has, even a halfa** work around for this and wants to share, I'd be happy to hear. You can email me at dan@ferlitogroup.com. Here's to hoping they fix this! I've reached out to support and put nicely, I don't think who I dealt with has much accounting experience as they couldn't understand why I thought this was such a big deal. They sent me a link to a SAGE support article that 1)does not address having to void a check in a previous period without having to re-issue (which is my scenario right now) 2) it's not even correct for having to re-issue the check as it then incorrectly shows the item paid twice (potential 1099 issue as totals will be incorrectly doubled)
I have been using Sage products since it was Master Builder and it floors me that Sage will not correct this. I feel your pain Dan... every time I have called Sage support and complained about this I usually get stuck with a support person who has NO ACCOUNTING experience. I would think by now that Sage would get on the ball and FIX THIS NOW!
Still no movement from Sage on this issue. Sage support are you listening? Please fix this issue now.
The solution is to not VOID the original item. Create an offsetting entry in the current period and clear them both. AP - create and apply a credit. VOIDing transactions should be the last solution that you want to apply.
This is one of the stupidest things I've ever seen - who ever heard of voiding a check in Dec and it posting to the previous March! We shouldn't have to come up with more entries to fix something so obvious as this.
When you intent to replace the check in the current period, the voiding of the check from the prior period should be matched on the same date, and the same period, and not change prior periods. I agree this could be much easier that it currently is.
HELLO Sage are you paying attention to this issue? Please fix this.
Sage is most likely not doing this because they feel that they have a work around by issuing a memo through AP that would debit the bank account and then you have to create a credit for your re-issue. The process is stupid but it at least allows you to have the void happen in the current period. If you have to go back and look at stuff it is super confusing doing it their way.
I agree with everyone else that we need this feature in Sage 100 as soon as possible.
Still no action from Sage on this issue... are they deaf?? Every time I call support and complain about this they just parrot the same tired excuse, "this is the proper way to handle voided checks." NOT... they have no clue what they are taking about.
SAGE... fix this now!
Need this corrected, this goes against all accounting principals.
Our accountant will no longer recommend your software.
Delivered in version# 23.2.