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Accounting Preferences - Void transactions Using Reversing JE
I would appreciate an explanation on how this works. Currently we do not have this preference checked. What is meant in the last paragraph? Can those types of transactions be reversed?
Check this box to create a reversing journal entry that voids checks and transactions on days or periods different than the original transaction date.
Create a reversing journal entry by clicking the Void button on the following transactions:
- Check
- Bill Payment
- Payroll Liability Payment
- Customer Refund
- Tax Payment
- Tax Liability Check
When you check this preference, you can no longer void the following transactions: sales order, estimate, cash sale, invoice, return authorization, cash refund, and credit memo.
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