Voiding Ledger Entries
The option to void an entry allows you to correct errors, such as an incorrect rent receipt or management fee.
Any transaction can be voided, however, it's important to note that currently the following restrictions are in place to prevent irreversible changes. It is not possible to void a transaction that is linked to:
An outgoing payment - In this case, you would see the error: Unable to void restricted type 'Outgoing Payment'.
A deposit - In this case, you would see the error: Unable to void restricted type 'Deposit Request'.
A maintenance charge - In this case you would see the error: Unable to void restricted type 'Maintenance'. However an unallocated maintenance charge can be voided by voiding the invoice on the maintenance job itself
If you receive an error like this, please contact the Street Support team via Live Chat who can assist.
How to void an entry
Head to the relevant ledger that you want to void a transaction on and click the three dots on the right hand side of the entry and then click 'void entry':
This will bring up the void entry window, which will give a breakdown of what you are voiding and what other transactions this will impact.
It's extremely important to read through this window before proceeding with the void action and ensure you understand exactly what further actions this will cause.
Void entry window
The top section of the void entry window outlines the transaction you are attempting to void. It will show the transaction details and the action 'voiding' on the right hand side:
The next section outlines the number of transactions that are linked to the one you are looking to void and will give a breakdown of what is going to happen on each affected ledger. Depending on the complexity of the transaction being voided, you may see that several transactions will be affected.
For example, if you are voiding a rent receipt that has been allocated to a charge, you would see an 'unallocation' action on the tenancy ledger (unallocating the rent receipt from the rent charge) as well as two 'voiding' actions on the owner ledger (voiding the rent income and the management fee charge):
Voiding an entry will add a new entry that reverses it to adjust the ledger balance. For example, voiding a £750 rent receipt will add a debit for £750:
Note - Voiding an agency payable charge will also delete the invoice for that charge. And voiding a transaction that unallocates money from an agency payable charge will update the status of that invoice to either 'unpaid' or 'overdue' depending on the due date. For more information, see our lettings invoice help article.
How to view voided entries
On a ledger, click the 'Show voided entries' toggle which will display any voided entries:
Now you will see the initially void entry as well as the new entry that was created to balance the ledger.
Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!