To reverse a journal entry:If you find errors in your journal entries that you need to reverse, you can negate the journal entry that is in error without having to create a whole new journal entry. The system allows you to reverse entries by creating a new generation of an existing journal entry with the updated posting. The original posting and the new generation negate each other in your general ledger.
To reverse a journal entry:
From the G/L menu, select Journal Entry to display the Journal Entry screen.
In the Date field, press Enter to accept the current date or enter a different date and then press Enter.
In the selection menu that displays, select a journal entry number to open an existing entry.
If you select an existing entry, continue with this procedure. If the entry you select is in a closed G/L period, a message displays indicating that the entry is in a closed period.
Use the Reversal hot key to display the Journal Entry Reversal prompt.
In the Enter Reversal Posting Date field, enter the date on which you want to reverse the journal entry and press Enter. For example, if you found an entry that was posted incorrectly two weeks ago, enter that date to reverse the journal entry on the date it was posted.
The system reverses the posting on a new journal entry generation, and the Journal Entry screen shows the posting reversed.
Press Esc to save the entry and exist the screen.
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