What does it mean to process a "void" transaction?

Processing a "void" transaction specifically refers to the action of nullifying the sale before it is finalized. In a retail environment, this means that the transaction has not yet been completed or settled in the payment system, and the cashier can effectively cancel it before any funds are transferred or a receipt is printed. This can occur for various reasons, such as a customer deciding not to proceed with a purchase or an input error where the wrong item was selected.

When a void transaction is executed correctly, it ensures that no charges will occur on the customer's payment method. This contrasts with other terms like canceling a completed transaction or issuing a refund, which occur after the transaction has been finalized. By understanding this concept, cashiers can manage and rectify purchase processes smoothly without impacting inventory or customer accounts negatively.