what does voiding a cheque do to GST

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have entered a cheque twice.  Is unpresented but in Dec 16 GST quarter.  How do I get rid of it without stuffing up my BAS's.  Do I void or reverse? And in which period
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Sally Cowan

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Posted 1 year ago

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Kevin Russell, Accredited Partner

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Reckon doesnt let you reverse transactions. You need to enter a bill credit for the expense and add a second line on the transaction to the bank account.
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John Graetz

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Sally.  You will need to do this in the current BAS period or else it will throw out in a previously lodged period.
John L G
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Donette Beasley

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Not sure what you mean by adding a 2nd line on the transaction to the bank account?  Also how does the bill credit clear once it is raised??
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Graham Boast, Accredited Partner

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Hi Donette

I would use a journal entry in these cases: a bill credit is fine, but will only work for a supplier.  Date in the current period, and in the next bank reconciliation you will need to tick both the unpresented cheque and the journal entry (they should sum to zero)



Graham Boast 0409317366
Reckon Accredited Consultant
graham@reckonhelp.com.au
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Graham Boast, Accredited Partner

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I have just published some more comprehensive notes on this on my website.

http://reckonhelp.com.au/articles/reckon-accounts-business/reversing-unpresented-cheques-or-bank-transactions-in-reckon-accounts-business/ 


Graham Boast 0409317366
Reckon Accredited Consultant
graham@reckonhelp.com.au
Sally, you could void the cheque then process a journal dated 16/12/16 DR expense CR Suspense or a clearing account and reverse ensure you override the date for reversal