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"void the transaction" is a correct and usable phrase in written English
You can use it when referring to cancelling an agreement or contract. For example: "The customer requested to have the transaction voided due to a billing issue."
Exact(2)
I immediately sent an e-mail to TracFone, asking it to void the transaction, and was informed that the minutes were already added to my phone so there was nothing it could do.
If you already hit the department button, you will need to void the transaction.
Similar(58)
Classic example: A customer comes in, buys an item and leaves; seconds later, the sneaky cashier simply voids the transaction and pockets the cash the customer just paid.
She helped herself to prescription drugs and rang up purchases, later voiding the transactions and pocketing the cash.
This will void the warranty!
Opening the case will void the warranty.
Staining a mattress may void the warranty.
The president has the power to void foreign transactions under the Defense Production Act, which authorizes the president to suspend or prohibit certain acquisitions of American businesses if there is credible evidence that the foreign purchaser might take action that threatens to impair national security.
Tax authorities are increasingly able to declare null and void any transaction whose sole purpose is the avoidance of tax.
This action voids the warranty.
However, Liv reminds them that only Lisa signed over power of attorney since Tom was away, rendering the transaction void.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com