If the check being written off was issued in a prior year, debit (increase) the checking account from which the check was originally issued and credit miscellaneous income. The journal entry can be made through the “Company” menu and “Make General Journal Entries.” Use a date after your last bank reconciliation was completed. Unless you are voiding a check in the same month it was issued, the better way to void a check is to enter a journal entry. Similar problems will occur if you are doing monthly or quarterly reports and the check was issued in a previous month or quarter. Since the check amount is now $0, your checking account balance is increased as of the date the check was originally issued, and thus last year’s balance will not agree with your previous bank reconciliations, financial statements, or tax filings. While this does eliminate the check from the list of outstanding checks on the bank reconciliation, various problems can occur, especially if the check is from a prior fiscal year. However, when the “Void Check” function is used, QuickBooks also zeros all of your accounts or balances that this check affected in the prior period, as if the check never existed. One way to write off checks is to select the check in the register and void it through the “Edit” menu, clicking on “Void Check.” Voiding a check changes the dollar amount to $0 but keeps the empty transaction. However, depending upon which method you use, you may unintentionally alter your financial reports. There are two ways that these checks can be voided when using QuickBooks. A common reason for voiding checks is to eliminate older, stale-dated, outstanding checks.
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