Voiding a paid invoice is different from declining or voiding an invoice before it's paid, since money has already moved. Voiding here reverses the transaction on the bank register itself, not just the invoice's status. Getting the date and related-invoice settings right matters, since they determine which journal entries get reversed and whether the invoice becomes available to pay again.
Follow these steps to void a paid invoice:
In CINC, go to Banking > Bank Account Register.
OR
In CINC with universal navigation, go to Accounting > Banking > Bank account register.
The Bank Account Register page displays. Search for and select the appropriate association.
Select the checkbox for the transaction you want to void.
Note: Only one transaction can be voided at a time.
Note: You can’t void reconciled transactions.
Click Void.
The Void Transaction window displays. Enter the Date and Reason.
If the invoice also needs to be voided, enable the Void Related Invoices? toggle.
Notes:
This creates reversal journal entries for both the expense and the payment, and places the invoice in Void status.
If you don't enable the Void Related Invoices? toggle, the invoice returns to a Ready for Payment status, and the system creates a reversal journal entry for the payment only.
A Void Transaction window displays. Click Yes.
The voided invoice displays in red with the details of the void.
Notes:
The date of the void should be the date on the bank register.
For accrual accounting, voiding an invoice reverses all original entries.
For cash accounting, voiding an invoice only reverses entries if a payment has been made.