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Trisha V

How do I void a cash transaction?

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I'm new to Sage Businessworks (it's a lot different than QuickBooks) and I need some help!  In Accounts Payable, I entered a payment to a vendor,  coded it as cash but it should be a credit card payment.

How do I void it?  I've been trying to figure it out...  any advice would be great.  Thanks.

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    In the AP menu, point to Invoices, Invoices, Enter.

    Create an invoice for the vendor and change the terms to 'Credit Card'

    Distribute the invoice to the G/L cash account where the cash payment was originally posted.

    This reopens the invoice for the vendor in Accounts Payable.

    In G/L, a credit posts to A/P and a debit posts to the cash account.

    Post a bank transaction without posting to G/L to clear the cash as well as the deposit.

    In the CM menu, point to Transactions and click Enter Bank Transactions.

    Enter a credit to offset the original cash payment. This clears the cash payment from the bank reconciliation.

    Clear the Post to G/L check box. The transaction does not post to the G/L; however, it records the offset of the cash payment in the bank reconciliation. When reconciling, clear both the check/charge and the credit.

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  • 0

    In the AP menu, point to Invoices, Invoices, Enter.

    Create an invoice for the vendor and change the terms to 'Credit Card'

    Distribute the invoice to the G/L cash account where the cash payment was originally posted.

    This reopens the invoice for the vendor in Accounts Payable.

    In G/L, a credit posts to A/P and a debit posts to the cash account.

    Post a bank transaction without posting to G/L to clear the cash as well as the deposit.

    In the CM menu, point to Transactions and click Enter Bank Transactions.

    Enter a credit to offset the original cash payment. This clears the cash payment from the bank reconciliation.

    Clear the Post to G/L check box. The transaction does not post to the G/L; however, it records the offset of the cash payment in the bank reconciliation. When reconciling, clear both the check/charge and the credit.

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