Void an Uncollected Receivable

If needed, you can void an uncollected receivable in a closed period or in the current period.

CAUTION: Be careful. Voiding a transaction cannot be undone.

Void from a Closed Period

When you void an uncollected receivable from a closed period, the original is voided and a reversing entry is created in the current period. These entries are view-only.

  1. On the Transactions tab, click Income > Receivables.
  2. Locate the uncollected receivable that you want to void.
    Note: You cannot delete receivables from a closed period.
  3. Click Void/Delete.
  4. Enter an optional description of the reason you're voiding the uncollected receivable.
  5. Click Void.

The message "Voided by Reversing in a Later Period" displays in red above the Distribution grid.

Void from a Current Period

In accrual basis accounting, even if a receivable is not collected, the transaction information must be retained and reversed. This is necessary because the original receivable affects both income and accounts receivable accounts. Information must be retained since you can switch between cash and accrual.

  1. On the Transactions tab, click Income > Receivables.
  2. Locate the uncollected receivable that you want to void or delete.
  3. Click Void/Delete.
  4. Enter an optional description of the reason you're voiding/deleting the uncollected receivable.
  5. Click Void or Delete.
    Note: You should only delete a receivable if you entered it by mistake.

"Voided" displays in red above the Distribution grid.