VOID PAYROLL CHECK/DIRECT DEPOSIT OR REPAYMENT (PAYVOIDCHK)

The process for voiding a payroll check/direct deposit or repayment has been modified to require entry of a void affect date. The date entered will be written to the pay master and subsequently used to determine the fiscal period for the clear process (the clear process credits cash and debits salaries payable for net pay). When voiding a check (that wasn’t cashed), the void affect date should be the date that you wish cash to be affected in Financial Management (this facilitates reconciling bank statements in the Bank Reconciliation module to book balance reflected in Financial Management for the month). When voiding with the repayment option, the void affect date should be the date that the employee reimbursed the organization for full net pay (from the incorrect payroll). Direct deposit or cashed checks should be voided with the repayment option. Unlike a true voided check, a void with repayment has no effect on Bank Reconciliation. And, because the void with repayment handles all of the accounting, reimbursement from the employee should be a balance sheet receipt debiting and crediting the cash account.