We’re here to help you add some more tools to your tool belt with today’s handy How To: Voids vs. Reversals.
It is important to maintain a workflow that allows your accountant to track what has happened in your business activity.
Reversing a history document [one that has already been saved and printed] has the opposite effect on inventory of the original.
- For example, if the original document was a sales receipt that subtracted items from inventory, then reversing it adds the items back to inventory. It does this by creating a new reversing document. In the case of a sales receipt, the reversing document is a return receipt.
To Reverse a history document:
- Locate and highlight/display the document to be reversed in the applicable history list.
- Select [REVERSE <Document Type>] from the I Want To menu.
- The Reversing Document dialog is displayed. If necessary, select your name from the Associate field drop-down list and select [OK].
If necessary, a new, corrected document can then be made as described here:
- The reversing document with your name is automatically created and added to the history list.
- When completed, the original document will be flagged Reversed in the Status field and the new document that was created will be marked Reversing. The Status field is displayed in the history list of each document type.
- If the reversed document references an order document, the fill status and balances of the order document are updated to reflect the change, provided it has not been deleted.
- If an item previously deleted from inventory is included on the document being reversed, Point of Sale automatically adds the item back to inventory. Learn more
- (Pro) The reversal of history documents at a remote store is allowed only until the document has been sent to Headquarters.
- If integrated with QuickBooks financial software and if the original document has already been sent to QuickBooks, then the reversing document is also sent and posts in the normal manner for that document type (for example, as a return receipt or return voucher.) These new records and account entries in QuickBooks cancel the effect of the original document. The original entries are not edited or removed. If the original document has not yet been sent, then both are flagged “Do Not Send” and there will be no entries made in your financial software for the transaction.
VOID: [APPLIES TO PAYMENTS]
RECEIPT NOT SAVED AND PRINTED:
If a payment is entered in error, it can be corrected or cleared any time prior to saving the receipt. See the notes below this procedure for restrictions and additional information on clearing specific payment types.
PAYMENT NOT PROCESSED/AUTHORIZED:
- Click the payment button for the payment type/change that was entered in error.
- Click Remove this Payment to remove the amount.
- For some payment types, the remove option is labeled Void.
- Enter new payment amounts/types to complete the sale.
- Save and/or print normally.
PAYMENT PROCESSED/AUTHORIZED BUT NOT SAVED AND PRINTED:
- If the receipt has not been saved/printed.
- click Credit to re-open the Credit Card payment dialog.
- Click Remove to clear the payment. If the credit card payment had already been authorized, it is voided and the charge will not show up on the cardholder’s statement. Enter new payment information or cancel the entire receipt, as applicable.
SALE COMPLETED/SAVED AND PRINTED:
If the customer cancels a purchase in-process, or returns the purchased merchandise for a refund, the following apply if using the QuickBooks POS Merchant Service:
- If the receipt has been saved/printed, but the transaction not yet settled, locate the original receipt in your sales history and reverse it. Both the original and reversing receipt retain the credit card charge information, but are marked as being voided and neither are sent for settlement. Neither transaction shows up on the cardholder’s statement.
- If the transaction has been settled, the recommended procedure is to create a return receipt, giving change as a credit to the same credit card. Alternatively, if the receipt contains only the item(s) being returned and was paid entirely by credit card, then reversing the entire receipt may be the fastest way to void the transaction and/or issue a refund. If the customer is not returning all items on the original receipt, then a return receipt is your best choice. In either case, since the original transaction was already settled, the return transaction is sent with the next Merchant Service batch, and both sale and return show up on the cardholder’s statement.
- If a credit card receipt is older than 60 days or if it has already been sent from a remote store to Headquarters, it can no longer be reversed. In this case, make a return receipt instead.
- If the receipt has already been saved, you cannot remove payment types, you will have to reverse the receipt and create a new one instead.
- If a credit card payment has already been authorized, but the receipt not yet saved, the charge will be voided and does not appear on the cardholder’s statement. Enter revised payment information and save/print normally. Learn more.
- Voiding a gift card transaction results in the amount being returned (or subtracted) from the gift card balance. Point of Sale connects to the service again to adjust the card balance.
- Debit payments, if authorized via the QuickBooks POS Merchant Service, have already affected the customer’s bank account. Debit payments cannot be refunded to the debit card. Therefore, a debit payment cannot be deleted from the receipt, nor can the receipt be canceled or voided. The receipt must be finished as is, or the cashier can manually enter an equal amount by another payment and change method, such as cash, to balance the receipt and refund the debit amount to the customer.
- Any information related to the deleted payment (e.g., check or gift certificate number) are cleared.
- (Pro) If deposits have been used as payment on the sale (as might be the case when selling customer order items), clearing the deposit will return it to the referenced order.