It does void check but payment is not going to get reverse.
We have to reprint the check via FCH7. It allows to void and reprint the check.
⇒ Go To the tab Printout/data medium.
⇒ Click on the maintain variant
⇒ Scroll down until you see reprint checks
⇒ Enter your check numbers from the first check number – to last check number of the checks incorrectly printed
⇒ Enter your void reason
⇒ This will void the incorrect checks and reprint the new checks automatically depending on how your system has been configured
⇒ Don’t forget to void the check numbers of the checks that were printed on in error use transaction code FCH3 Void unused checks