How to Void a Check in QuickBooks

  • Quickbooks

QuickBooks is the leading accounting software choice for small businesses, with more than 7 million small businesses choosing it to handle their day-to-day needs. This versatile software can handle all of your accounting, bookkeeping, payroll, and tax needs – and so much more!

At indinero, we help many of our clients establish their accounting and bookkeeping with QuickBooks. We get plenty of questions about its core features, so here are some answers that can let you take full advantage of everything QuickBooks has to offer.

How to Reconcile in QuickBooks?

How to Create an Invoice in QuickBooks

How to Write Off an Invoice in QuickBooks

How to Print a W-2 from QuickBooks

How to Transfer QuickBooks to a New Computer

How to Void a Check in QuickBooks

How to Print 1099 from QuickBooks?

How to Write Off Bad Debt in QuickBooks

How Do I Enter a Customer DBA Name Into QuickBooks?

What Does Revert Mean in QuickBooks?

How to Create an Owner’s Draw Account in QuickBooks Online

How to Merge Customers in QuickBooks

How Can My Business Get Started With QuickBooks?

How to Reconcile in QuickBooks?

Reconciling your accounts to line up with your bank, credit card, and other account statements is a vital part of routine accounting. QuickBooks makes reconciling accounts easy with just a few simple steps.

To prepare for reconciliation, you should back up your company file to ensure that your data is protected. If this is your first time reconciling a specific account, you’ll have to establish your opening balance by entering that value from the beginning of a bank statement.

You’ll need to gather the bank accounts and credit card statements to reconcile and ensure that all relevant transactions have already cleared. When reconciling several months at once, you should start with the oldest statement.

Now, you can open QuickBooks and follow these steps:

  1. Select Reconcile from the Banking menu.
  2. Select the specific bank or other accounts you wish to reconcile in the Account field.
  3. Your Statement Date should fill automatically. Verify that it matches the date on your bank statement, and change it if necessary.
  4. The Beginning Balance will fill automatically based on the ending balance of your previous reconciliation.
  5. Take the Ending Balance from your bank statement and enter it into QuickBooks.
  6. Enter any Interest Earned or Service Charges from your statement, but be careful not to enter any charges already present in QuickBooks.
  7. Review the information you’ve entered and select Continue.

If any numbers don’t line up, you can select Locate Discrepancies to generate a report that highlights potential reconciliation issues.

Now, you can compare each individual transaction in QuickBooks to those listed on your bank statement. Simply check off the transaction in the checkmark column if it matches to reconcile it. Once all transactions are cleared, select Reconcile Now to complete the process.

How to Create an Invoice in QuickBooks

Creating and managing invoices is a core feature of QuickBooks accounts receivable functionality. You can create invoices from scratch, for sales orders or for estimates/quotations.

Follow these steps to create an invoice from scratch:

  1. Select Create Invoices from the Customers menu.
  2. Go to the Customer: Job and select the customer or customer job for the invoice. You can click Add New to create a new customer.
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  1. Fill out the form with the required information, such as the date, invoice number, bill to, and terms.
  2. Add items for the invoice to the detail area. You can create a new item or modify the descriptions and costs of previously entered items.
  3. Click Save & Close to complete the invoice.

If you need to create an invoice for an existing sales order, follow these steps:

  1. Go to the Sales Orders tab and select Create Invoice.
  2. Select the option to either create an invoice for all sales orders or create an invoice for selected items.
  3. Make changes to the invoice as needed. For example, quantity, price, or other details may have changed between the order and the invoice.
  4. Click Save & Close.

You can also create an invoice from an estimate with these steps:

  1. Open the estimate.
  2. Click on Create Invoice near the top of the form.
  3. You may be prompted to select which items and quantities to apply to the invoice.
  4. The invoice will generate, and you can modify any information if needed.
  5. Click Save & Close.
How to Transfer QuickBooks to a New Computer

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How to Write Off an Invoice in QuickBooks

QuickBooks is an excellent choice of accounting software to handle invoices. You can easily write off invoices due to minor discrepancies if needed in just a few simple steps. Handling this process properly ensures accurate accounting and that you don’t overpay your tax obligations.

  1. Go to Sales and select Customers, then find the specific customer and select the appropriate invoice to write off.
  2. Select New from the main menu and then choose Credit Memo under the Customers column.
  3. Input the customer information from the invoice and select the date for the write off.
  4. Fill out the credit memo with quantities, rates, and amounts from the invoice, but use the Bad Debt item instead of the original product or service.
  5. Apply the sales tax to the credit memo if it was applied to the original invoice.
  6. Apply the credit memo to the invoice by selecting the invoice, selecting Receive Payment, and then selecting the credit memo as payment.
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  1. The payment amount will now be $0.
  2. There will be a $0 transaction in the check register during your next reconciliation. Clear that transaction to complete the write off.

How to Print a W-2 from QuickBooks

QuickBooks provides a wide range of tax features, including easy access to W-2 and W-3 forms. How you access these forms will vary depending on your payroll service. QuickBooks Desktop Payroll Basic doesn’t provide any access to W-2 and W-3 forms.

QuickBooks Online Payroll

If you have QuickBooks handle your taxes and forms automatically, they mail out W-2s to your employees throughout January and provide the option to print them yourself by January 13th.

To access and print W-2s and W-3s, follow these steps:

  1. Go to Taxes, and then Payroll Tax.
  2. Go to Filings, and either select directly for the current year or select Annual Forms to access previous years.
  3. You can click on View beside the options listed for Employer W-2, Employee W-2, or W-3.
  4. This opens the forms as a PDF, which you can then print as needed.

If you don’t automate forms through QuickBooks, you’ll need to purchase proper W-2 paper to provide official copies for employees. Intuit, the company behind QuickBooks, sells W-2 kits for this purpose.

QuickBooks Desktop Payroll Assisted

Under this plan, QuickBooks files W-2s and W-3s with the IRS and SSA on your behalf. You can access W-2s to print manually with these steps:

  1. Go to Employees, and then Payroll Center.
  2. Click on the File Forms tab.
  3. Click on View/Print Forms & W-2s.
  4. Provide your payroll PIN for verification.
  5. Go to the W-2s tab and select the year.
  6. Select individual employees or all employees.
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  1. Click on Open/Save Selected.
  2. This opens the forms as PDFs for printing.

QuickBooks Desktop Payroll Enhanced and Standard

To create and print your W-2s and W-3s, follow these steps:

  1. Select Payroll Tax Forms from the Employees dropdown menu, then click Process Payroll Forms.
  2. Select Annual Form W-2/W-3 from the File Forms tab.
  3. Click on Create Form.
  4. Select the employees to file and enter the year.
  5. Select employees to print.
  6. Click on Review/Edit to review each W-2, and then Submit Form to print and file.
How to Print 1099 from QuickBooks

Credit: Tam Nguyen

How to Transfer QuickBooks to a New Computer

If you’re using QuickBooks Online, you can already access QuickBooks from any device by simply signing in. If you’re using QuickBooks Desktop, you’ll have to manually move or reinstall QuickBooks for use on another computer.

indinero can help you handle your QuickBooks implementation. You can also follow these steps to move or reinstall QuickBooks:

  1. Make sure that you have your product and license information on hand.
  2. Uninstall QuickBooks from the computer you’re using if you’re reinstalling.
  3. Download the installation files or insert your CD into the computer you want to install QuickBooks Desktop for.
  4. Open QuickBooks.exe from the file or CD.
  5. Follow the onscreen instructions to install the software and accept the software license agreement.
  6. Enter your product and license numbers.
  7. Select Express for express installation or Custom and Network Options to change settings and install location.
  8. Once installation is complete, click Open QuickBooks.
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  1. You’ll be prompted to Activate QuickBooks Desktop.
  2. Follow the onscreen instructions to verify your info.

If you don’t have your CD, you can download the files for your version of QuickBooks from their website. If you don’t know your product and license numbers, you can go to the computer you currently have QuickBooks installed on and press F2 to bring up your product information.

How to Void a Check in QuickBooks

The instructions for how to void a check in QuickBooks depend on whether you’re using QuickBooks Online or QuickBooks Desktop.

QuickBooks Online

  1. Click on Bookkeeping, then Transactions, and then choose Expenses.
  2. Click on Filter, and then select Check in the Type field.
  3. Select the appropriate date range to find the check and click Apply.
  4. Choose the check you wish to void in the Expense Transactions list.
  5. Click on More, and choose Void from the options listed.
  6. Select Yes to void the check.

QuickBooks Desktop

In QuickBooks Desktop, you can either void or delete a check. Voiding a check changes its amount to $0 and prints VOID in the memo. The check is void, but the information stays recorded in the system. Deleting a check removes it entirely.

To void a check, follow these steps:

  1. Go to the Banking menu and select Use Register.
  2. Choose the account associated with the check from the dropdown list.
  3. Select the appropriate check from the Bank Register.