It’s not unusual to have checks that are never cashed build up in a companies bank account. Most states have escheat/Unclaimed Property laws requiring amounts that reach a certain age to be remitted to the state for safe keeping.
For Dynamics GP, the simplest way to do this is to void both the check and the voucher as of the day you are generating payment to the state. The void date defaults to the check date. Make sure to change it to the current date to avoid posting issues. Then create a voucher and cut a check with the details to the appropriate state(s).
Keep in mind a couple of things when you do this:
- These laws are typically CONSUMER protection laws and often business payments are specifically excluded. This means you can void the check and the voucher and keep the money if the check was cut to a business. Check with the applicable state laws.
- Often quantities over a certain amount (more than 25 escheat items for example) require electronic remittance to the state.
- If you have a lot of states, there are companies that will do the legwork for you for a pretty reasonable fee. They tend to pay for themselves by helping to limit the amounts sent to the states.