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Voids vs Reversals
We have two void reversal situations:
- We have an associate who received EFT for a paycheck she should not have received. She wrote us a check since the EFT went to the bank. Do we reverse this, void this or both?
- We have an associate who was issued two physical checks. She should not have received the checks. She has not cashed the checks. We did a stop payment at the bank. Do we reverse this, void this or both?
How do voids appear on the bank file? Is there a negative amount on the file? How do voids/reversals get reconciled?
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