The steps below are for the cancellation of a disbursement that will not reopen the referenced payment request or reissue the payment to the vendor in through payment from the cancel disbursements payable balance sheet account.
Identify the disbursement transaction associated with the Check that requires cancellation. Ensure that it has not cleared the bank (that is, marked Paid).
Discard the disbursement transaction to create a cancellation version of the transaction.
Enter the information to cancel the disbursement.
Set Cancellation Type to Close.
Select a Cancellation Reason. For example, set Cancellation Reason to Lost if the check is lost.
Leave the Scheduled Payment Date blank.
Submit the cancellation version to final and view updates. The cancellation will not reopen the referenced payment transaction.