The invention relates to an apparatus and a corresponding method for canceling, in particular destroying, sheet material, in particular bank notes. The apparatus comprises at least one canceling means (2) to which the sheet material (1) to be canceled is fed, in which the fed sheet material (11) is canceled, in particular destroyed, and from which the canceled sheet material (11) is discharged. The apparatus comprises furthermore at least one supervising means (7) for monitoring the sheet material (11) being discharged or having been discharged from said canceling means (2).For improved monitoring of the cancellation of sheet material, in particular with respect to malfunctions, there is provided at least one monitoring means (6a, 6b) for monitoring the fed sheet material (1). The fed sheet material (11) is compared to the sheet material (11) being discharged or having been discharged in an evaluation means (9).