General Ledger > Journal Entries > Void Posted Journal Entries

Voiding a posted journal entry involves the following:

•Automatically delete the amounts of the batch, leaving no trace in the accounts to which they were posted or in any reports generated after it has been voided.

•Void any reversing entry that pertains to the journal entry in the posted batch. It is helpful that you always keep a file copy of the journal batch entry that you have voided. This will allow you to conveniently trace the historical transactions whenever necessary. You should also consider any adjusting or offsetting entries that you have created and/or posted that are related to the posted batch which you are about to void in this function.

•Journal entry batches posted to a closed year can no longer be voided as well as journal entries transferred to the General Ledger from subsidiary modules. You must make offsetting or adjusting entries to correct these batches.

•For control purposes, AccountMate will not allow you to void only a part of the posted batch; thus, you have to void the entire journal entry batch. When you want to correct only a part of the batch, make an offsetting (adjusting) journal entry rather than void the entire batch.

Note: The voiding of a posted journal entry batch is a non-standard accounting procedure and should not be resorted to as much as possible because it removes the audit trail. Before you consider the voiding of posted journal entries as a standard practice, you should review the journal entries prior to posting them. Should there be a need to adjust or delete a part of a posted batch, an offsetting journal entry should be made instead of voiding the entire batch.

To void the posted journal entries, perform the following steps:

1.Access the Journal Batch Entry function from the Journal Entry group under the Transactions menu of the General Ledger module. The Search screen is automatically displayed when this function is accessed.

2.In the Search field, enter the number of the journal batch entry which you want to void. Alternatively, you can select from the grid the journal batch entry record that you want to void; then, double-click on the selected journal batch entry record.

3. After selecting a valid posted journal batch, AccountMate will then display the journal batch entry details for your reference only.

Note: This function will not allow you to select a journal batch entry that contains standard type of journal entries which belong to a prior fiscal year, prior-year end adjustment type of entries, or contains transactions transferred from another module.

4.Click the Delete button in the Transactions toolbar; then, click the Yes button to complete the voiding of the posted journal batch entry.

5.Click the Yes button again if you want to create a copy of the posted journal batch entry that you are voiding; otherwise, click the No button.

Note: Once you click the Yes button, indicating that you want to create a copy of the voided journal batch entry, AccountMate will then display the Create Batch window where you can enter the number that you want to assign to the journal batch entry that you will be creating based on the journal batch entry that you voided. After entering the desired journal entry batch number, click the OK button.

Void Posted Journal Entries

Void Posted Journal Entries

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