Voiding Deposit


Here is my issue that I am hoping someone can help with.

What I basically need to know is, can I void a cash receipt bank deposit without having an issue? The wrong month was put in as the deposit date and we would like to correct it. If not, will the general ledger go back into balance if it can't be voided and entered for the correct date?  The cash receipt date is in January 2020 and the Bank Deposit Date is December 2019. A more detailed description is below if needed.

I have a cash receipt, that was posted as cash.  This was a direct deposit to our account. When we entered it on our side, we forgot to back date it. The deposit was made to our bank on 12/30/19, we entered as 1/8/20. Since the system won't let us void cash receipts we just left it. We have just started doing the bank statements as our previous person left. We didn't realize that after you printed the reconciliation report you could not make changes. Later, it was thought that if we posted the deposit back to December, it would come up on the bank statement and everything would work out. However, that didn't do us any good because we could not make changes to the reconciled bank statement. Therefore, we would like to change the deposit date to the January 8, 2020 date.

Thanks so much,

  • jkrueger-

    **IMPORTANT** This may be too complicated to discuss in the forum. If you are unclear on ANY of these steps, do not perform and call support for additional explanation and assistance**

    There are two steps to posting payments. Step #1) Posting the payment to the customer’s account in AR, Transactions, Post Receipts (this is the most common but payment could also be received in when posting an AR or OE Invoice, or and OR Sales Order) the posting to the General Ledger occurs during Step #1; Step #2) posting the bank deposit to Cash Management in AR, Transactions, Bank Deposits. This generates a Deposit report, but only posts to the Cash Management Bank Reconciliation.

    If the error or the correction is from step #1 Post Receipts, then you need to follow the steps for voiding a cash payment in the Knowledge Base article #17205 How to void customer receipts for check, credit card, or cash payments.

    If the error or correction is ONLY in step #2 – Posting the Bank Deposit - meaning that Post Receipt date was correct, the mistake is only in the posting of the Bank Deposit, then and only then, you can go into CM. Transactions, and use the Void Bank Transaction. For Transaction Type select “Deposit’. In Reference number, find the reference # for the deposit you wish to void. Once you have selected the correct Reference number, select “Void”. This will void the Bank Deposit only, leaving the original Post Receipt. You can then go back to AR, Transactions, Bank Deposit and re-deposit the transaction using the correct date.

    If I understand you correctly, at this point you are going to leave the cash posting for January and only need to correct the Bank Deposit you posted in December. If that is correct, then you can use the Void Bank Deposit option. Then redeposit the transaction in AR, Transaction, Bank Deposit using the January date.

    AGAIN** If you are unclear on ANY of these steps, do not perform and call support for additional explanation and assistance**