NSC | Accounting Preference > Effects of Enabling the Void Transactions Using Reversing Journals
1. When the preference Void Transactions Using Reversing Journals is enabled, the journal entry form will no longer display the Void button as illustrated below.
If the user would like to void a Journal Entry, they can just reverse it by editing the Journal Entry and entering a Reversal Date. There will also be a link to the Reversal Journal Entry.
2. Voiding Bill Payments will change the status of the Bill to Open Status
Here is a bill that has a status of Paid in Full
After the Bill Payment was voided, the status of the bill be set to Open