Configuring the Void Button for Expense Reports
- Accounting Preferences Setup
- Navigate to Setup > Accounting > Accounting Preferences.
- Ensure the Void Transactions Using Reversing Journals checkbox is unchecked.
- Accessing the Void Button
- When this preference is disabled, the Void button becomes visible in the expense report when editing it.
- This allows us to void expense reports directly without creating a reversing journal entry.
Impact of Voiding an Expense Report
- GL Impact:
- Upon voiding an expense report, all General Ledger (GL) impacts associated with the report are cleared.
- This ensures that the expense is removed from the company’s financial records.
- Voided Expense Report Status:
- The voided expense report will no longer have financial impacts, effectively removing it from active financial reporting.
Restrictions on Voiding Expense Reports
Not all expense reports can be voided. Certain conditions and associated transactions restrict the ability to void:
- Reimbursed Expense Reports: Expense reports that have already been reimbursed to the employee cannot be voided.
- Billed Expense Reports: Expense reports billed to a customer are linked to other transactions and cannot be voided.
Impact of the “Void Transactions Using Reversing Journals” Checkbox
This accounting preference affects voiding behavior across different types of transactions:
- When the Checkbox is Unchecked
- We cannot create reversal journal entries for the following transactions:
- Checks
- Bill Payments
- Payroll Liability Payments
- Customer Refunds
- Tax Payments
- Tax Liability Checks
- However, voiding is possible for:
- Sales Orders
- Estimates
- Cash Sales
- Invoices
- Return Authorizations
- Cash Refunds
- Credit Memos