Deltek Vantagepoint Help

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Void a Check or Electronic Funds Transfer Payment

You can void a paper check or electronic funds transfer payment if it has not cleared at the bank to which it was posted. When you void an item, the status returns to Processing, so that you can reprocess it.

The void procedure returns the status of a vendor's accounts payable voucher to Outstanding. It does not block payment to the vendor. If you void an EFT transaction before the vendor is paid, but after you send the text (.txt) file to the bank, you must tell the bank to stop payment to the vendor.

If you use multiple companies, ensure that the active company is the one in which the payment was created. If it is not, you do not have approval to access the payment, and it is possible that you do not have approval to access the bank code for the bank on which the payment is drawn. The active company is the company that you select at login.

To change the active company in the browser application, click the name of the current company on the toolbar and select a company from the drop-down list. To change the active company in the desktop application, select Utilities > Change Company and then select a company on the Company Selection dialog box.

This procedure describes how to void all payment types.

Prerequisites:
  • To have access to the Void option, your role must have Full Access to all Transaction Types selected (or have access to the Void Payment transaction type), and also have the Post transaction type selected on the Transaction Types grid for your company on the Accounting tab of the Security Roles form in Settings > Security > Roles.
  • To void payments in closed or prior periods, your role must have Allow Processing in Closed Periods or Allow Processing in Prior Periods selected in the Miscellaneous section on the Accounting tab of the Security Roles form.

To void a check:

  1. In the Navigation pane, select Cash Management > Payment Review.
  2. Use the filtering fields on the Search Criteria panel of the Payment Review form to display the payments that you want to void.
  3. In the Payments grid, select the rows with payments to void.
    If you select more than one payment, they must all have the same bank, posting period, and posting sequence. You cannot void payments that have been reconciled in Bank Reconciliation.
  4. On the grid toolbar, click Void.
  5. On the Void Payment dialog box, specify the date on which to void the payment and click Void Payment.
    Vantagepoint displays a message to tell you that the posting process completed successfully, and displays the number of voided payments by type, the number of line items posted, and the posting sequence number.
  6. Click OK to void the specified payment and create a separate posting log for each payment type.