Void A Sales Cash Receipt

Jonathan2708
Jonathan2708 Member Posts: 552
edited 2009-08-11 in NAV/Navision Classic Client
Hi,

I've found how to void a purchase payment cheque that has been raised, but it seems you cannot financially void a sales receipt. I find this quite surprising as it's surely much more common to receive an invalid/bounced cheque than it is for you to write one to a supplier. I've tried adding the 'Bank Payment Type' field to the cash receipts journal and setting it to 'Manual Cheque' when posting a receipt but this does not post a record to the 'Cheque Ledger Entry' table.

Am I missing something?

Jonathan

Comments

  • kapil4dynamics
    kapil4dynamics Member Posts: 591
    Jonathan2708 wrote:
    Am I missing something? Jonathan

    No, unfortunately it works only for payment u r making not receiving.
    Kapil Khanna
  • themave
    themave Member Posts: 1,058
    Jonathan2708 wrote:
    Hi,

    I've found how to void a purchase payment cheque that has been raised, but it seems you cannot financially void a sales receipt. I find this quite surprising as it's surely much more common to receive an invalid/bounced cheque than it is for you to write one to a supplier. I've tried adding the 'Bank Payment Type' field to the cash receipts journal and setting it to 'Manual Cheque' when posting a receipt but this does not post a record to the 'Cheque Ledger Entry' table.

    Am I missing something?

    Jonathan
    Yes you are missing something. Voiding a check written by your company, is completely different then receiving a bad check from a customer.

    the reason a check is voided, varies, but in all cases it is never cashed.

    Might be because a check was lost,
    In this case you can place a stop payment on the check and you know it won't be cashed. so it can be voided.
    might be you printed the checks and when reviewing noticed you made a mistake.
    this you also can void.

    now once you have received a customers payment and deposited it. that transaction is complete.

    if the check then bounces, that is a completely new transaction to record. you don't just act like it never happened. you need to record the new transaction, which is a charge to your bank account. (which will show up on your bank statement, and need to be reconciled) The bank doesn't just reduce the original deposit you made, it records a new transaction, as you need to do also.

    But in all cases the AP side you can only void a check that has not cleared the bank and been reconciled.

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