If a mistake is discovered in Accounts Payable, invoices and/or payment can be either voided or deleted. This applies to all AP payment types. The decision of whether to void or delete a particular transaction is at the discretion of the district.
Void vs delete
Payments
Invoices
Void vs delete
When a payment is voided, a record of the payment still exists, leaving an audit trail. The effects of a void on the general journal are:
- The original transaction is marked with a “Void” indicator (visible on a transactions report)
- A second transaction is added, reversing the debits and credits of the original transaction. This transaction has the type “Void” and workflow “Other.”
When a payment is deleted, the system performs as if the payment never existed. If the payment was a check, the check number can be reused. The effects of a delete on the general journal are:
- The original transaction is removed
Payments
When deciding whether to void or delete a payment, consider whether an audit trail will be necessary. When it comes to checks, for example, if official check stock has been used (printed incorrectly, had a stop payment order, etc.), then it should definitely be voided so that there is a record of what happened to that check. However, if a problem with the data is discovered before a check is printed, you may consider deleting the payment instead.
To delete a payment in Accounts Payable:
- Go to Financials Main > Accounts Payable > Payments
- Use the down arrow next to an invoice to reveal and select Delete
- Delete
To void a payment in Accounts Payable:
- Go to Financials Main > Accounts Payable > Payments
- Use the down arrow to reveal and select Void
- Enter the appropriate Void Date
- Choose whether to void the linked invoices:
- If Void Invoices is unchecked, the linked invoices will revert to Ready For Payment. The invoice can be edited if necessary, and a new payment can then be created for the same invoices.
- If Void Invoices is checked, the linked invoices will receive the status Void, and they cannot be reused for a new payment. In accrual basis of accounting, this will create at least one additional journal transaction to reverse the invoice(s)’s debits and credits.
- Void
Invoices
Invoices with the status Ready For Payment can also be deleted or voided (unless the invoice is linked to a voided payment, in which case it can only be voided).
In cash basis of accounting, voiding an invoice has no effect on the general journal. In accrual basis of accounting, voiding an invoice will create a second transaction that reverses the debits and credits of the invoice.
To delete an invoice:
- Go to Financials Main > Accounts Payable > Vendor Invoices
- Use the down arrow next to an invoice to reveal and select Delete
- Delete
To void an invoice:
- Go to Financials Main > Accounts Payable > Vendor Invoices
- Use the down arrow next to an invoice with the status Ready For Payment to reveal and select Void
- Enter Void Date
- Void