You can only void a payroll check in the current quarter or one quarter back. As a workaround, if the check is too old to void, you can simulate voiding the payroll check through transactions in Cash Management and General Ledger. IMPORTANT NOTE: This will not correct any payroll tax reports. Any changes to tax reports will need to be entered manually. To simulate voiding the check: Create a bank transaction to simulate the voided payroll check. (Note: This will only correct the General Ledger Reports and give a "Deposit" Bank transaction to offset against the original check for the bank reconciliation) - Open CM, Transactions, Enter Bank Transactions
- Select the transaction type Deposit. The amount of this bank transaction should be the net amount of the original Payroll check. For Account #, select the offset accounts to be credited and/or debited to simulate the original postings to the general ledger. If you are unsure, contact your CPA or Accountant for the GL accounts to use.
- Note: To review how the original payroll check was posted, go to G/L, Reports, Journal Report and for 'Include what entries' select "Specific posting date range" and enter the date of the original payroll check.
- When reconciling the cash account in CM, Transactions, Reconcile Checking Account, clear the original Payroll check as well as the deposit created in step 2
- Manually adjust any tax reports. If W-2s or other tax reports have been processed, you will need to process a corrected tax form - see attachment for how to print corrected W-2 forms
- If a check needs to be reissued for the prior year see the steps below.
If the check needs to be reissued: Since a payroll check cannot be reissued for a closed quarter or year, you have 2 options: 1. Reissue the check in the Payroll module using the current quarter date If you need to reissue to get the amounts back in the system, the only way to reissue the check is to reissue the check using a current quarter date. You would then have to manually adjust any current quarter tax reports and journal entries that posted to the current quarter. However, this would correct the employees yearly totals, so any Annual report like W2-s would be correct. IMPORTANT NOTE: If a prior quarter check is voided and reissued, the only way to correct tax deposits is on the tax form manually or manually through Enhanced Tax Reporting. OR 2. Reissue the check outside the Payroll module, using Cash Management Instant Checks If you do not want to reissue the check in your Payroll module above, you can issue a check using Cash Management Instant Checks. IMPORTANT NOTE: This will NOT update any figures in the Payroll module (reports, totals, tax deposits, etc..). In addition, any tax reports would need to be adjusted manually -
After simulating the voided check above, open CM, Transactions, Instant Checks -
Enter a check for the net amount of the new Payroll check -
For Account #, select the offset accounts to be credited and/or debited for the new check distribution. If unsure, contact your CPA or Accountant for the GL accounts to use. -
When reconciling the cash account in CM, Transactions, Reconcile Checking Account, clear the Instant Check posted in step 1 as well as the deposit for the void created above.
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