Voiding a transaction sets its total and all its line items to 0 but does not remove it from the system. This is the preferred way to cancel an existing transaction because the audit trail is preserved. After you void a transaction, you cannot make changes that have general ledger impact to the original transaction, including changing the posting period.
If you void a transaction that was created to close another transaction, the original transaction is reopened. For example, if an invoice was created to bill a sales order, voiding the invoice reopens the sales order and sets the order’s status to pending billing. Then you must invoice the order again. Another example is a bill payment that has been applied to a bill. If you void the bill payment, the bill is reopened. Another payment must be entered against the bill.
To void a transaction:
- Open the transaction for editing.
- Click Void.If the preference to void transactions with a reversing journal entry has been enabled, only certain types of transactions can be voided.
Voided sales orders do not show on the Transactions subtab of customer records. To view voided sales orders, go to Transactions > Sales > Enter Sales Orders > List.