RE: How to Void Checks without Re-Opening Closed Period
I have tried the Override Accounting Permission and Allow Non-GL posting for a specific month however I am still unable to Void the Checks/Cheque. Please advise on any workaround that I should try.
Neither of those 2 (Override Accounting Permission and Allow Non-GL posting) will let you accomplish what you need to.
Voiding a check has direct G/L impact and as long as the period is closed, you cannot accomplish this.
Below are instructions from Curious Rubik (echoed by NetSuite Developer Notes)
A payment recorded in a closed period cannot be directly voided without reopening the period.
However, a reversing journal entry can be created to apply against the payment transaction to essentially cancel the payment. This can be done by taking the steps listed below:
Allow Non-GL changes:
- Navigate to Setup > Accounting > Manage Accounting Periods.
- Click on the period in which the payment was recorded (i.e. Jan 2013) in order to edit the base period.
- Ensure Allow Non-G/L Changes is checked as true.
- Click Save.
Unlink existing payment record from invoice:
- Navigate to the payment record that you would like to void.
- Click Edit.
- Uncheck any invoices that the payment has been applied to. Note: the status of these invoices may change.
- Save the payment record.
- Click OK when prompted to save an unapplied payment for the customer.
- Hover over Actions and click GL Impact. Please take note of the GL Impact as the reversing journal entry will reverse the accounts affected here.
Create Reversing Journal Entry:
- Navigate to Transactions > Financial > Make Journal Entries.
- Enter reversing journal entry (reversing entry to the GL impact of the payment above). For example, debit Accounts Receivable and credit Checking.
- Ensure that the correct customer is selected under the Name column.
- Enter desired memo for tracking purposes and click Save.
Applying Payment to Reversing Journal Entry:
- Navigate to the payment record once again (Transactions > Customer > Accept Customer Payments > List).
- Click Edit.
- Look for the reversing journal entry in the list of invoices.
- Click the Apply checkbox next to the journal entry.
- Enter desired memo and click Save.
The payment should now be applied to the reversing journal entry. Navigate back to Setup > Accounting > Manage Accounting Periods and uncheck Allow Non-G/L Changes in the corresponding accounting period. After taking the above-mentioned steps, users may now continue to create a chargeback for the customer.