Hi, We want to void a bill payment in a closed period, but it seems unavailable. We have turned off the preference “VOID TRANSACTIONS USING REVERSING JOURNALS.” Is there a way to void it in the subsequent accounting periods? We don’t want to reopen the accounting period that is closed now.

Creata journal entry against the vendor and match it against the bill payment

Thanks, JM. The accounting period is closed now. Can you please elaborate on your suggestion? What is the industry standard or best practice people follow in such cases? Would it be possible to show the void button even on the closed bill payment transaction and void it in the open period. Is it possible via a customization?

A void is a journal entry. So if you had void setting ON, the void transaction would be a journal entry in current open period.

Thank you very much 🙏