What does 'voiding' a transaction do in QuickBooks Online?

Voiding a transaction in QuickBooks Online alters the original transaction while retaining a record of it for auditing purposes. When a transaction is voided, its effects are nullified, but the details of the original transaction remain visible in the system. This is crucial for maintaining an accurate audit trail, which is important for both financial reporting and compliance.

This ability to track voided transactions helps users and auditors review historical data and understand why changes were made, enhancing transparency and accountability. The void action contrasts significantly with deletion, which removes the transaction entirely from the records, potentially disrupting the integrity of financial reporting. Voiding keeps essential information intact, allowing for better management of historical records without losing valuable context.