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How To Expire Check Payments

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  • How To Expire Check Payments

    As of version 4.6 of Liberty 4 you can now change the status of a payment from within the Payouts tab. Along with being able to change the status a new status of Expired has been added. The Expired payout status is intended to be used for a check payout that has been issued, but was never deposited or cashed by the consignor and no longer can be. Marking a check payout as expired is not the same thing as deleting a payout - in fact, if the intent is to re-issue the payout, then the original payout must still be deleted at some point. Expired payouts do not show up on the list of Checks to Clear (Activities > Accounting > Clear Checks). The Expired status can be used as a filter for reporting purposes. Expiring a payout has no impact on Quickbooks, for those using the Quickbooks Link or Quickbooks Export. To mark a check payout as Expired, navigate to the Payouts tab in an account, right-click the payout, choose Update Status, then Expired. Only payouts with a status of Open may be marked as Expired.

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