Scenario
User wants to know the impact of voiding Bill Payments from previous month to the Bank Reconciliation. However, the impact is dependent on the preference set for voiding transactions.
Navigate to Setup > Accounting > Accounting Preferences > General tab > General Ledger section to check if Void Transactions Using Reversing Journals is enabled or not.
Solution
If Voiding Transactions Using Reversing Journals = False (not enabled):
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Voiding Bill Payments will make the amount and line amount zero
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Bill Payment previously reconciled with an amount of $200.00 will become $0.00 when voided
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Transaction will no longer show on the Reconcile Bank Statement page which causes a difference amounting to the voided Bill Payment's amount
If Voiding Transactions Using Reversing Journals = True (enabled):
- Voiding Bill Payments will create a Voiding Journal which allows users to select the Posting Period
- Voiding Journal will show up on the bank reconciliation on the period it was posted
- Voided Bill Payment becomes unreconciled which causes a difference amounting to the voided Bill Payment's amount
- Voided Bill Payment is still available for reconciliation when user goes back to the previous bank reconciliation. Users can then mark again the voided bill payment to remove the difference.
Notes:
- This is only applicable using the old Bank Reconciliation Page via Transactions > Bank > Reconcile Bank Statement
- The ability not to un-reconcile the transaction after it was voided when the transaction has been previously reconciled is currently logged under Enhancement 235404
- The ability to lock a bank reconciliation to prevent unchecking of the reconciliation box on the item that was already reconciled is currently logged under Enhancement 158482