Reversing a Posted Journal Entry

Requirements: Connected 10.1 or greater.

In some cases a long journal entry is entered or imported that needs to be reversed. The following shows how to quickly reverse a General Journal entry while maintaining a complete audit trail.

1) Locate the posted entry to be reversed in the General Journal window.

2) Click Actions -> Create Reversing Entry, as shown below.

3) The following "Create Reversing Entry" window appears. The Date field will default to the date of the entry being reversed. It is typically recommended to keep this date the same as the original entry for an accurate reversal.

4) Click the "Create Entry" button to proceed. Once completed, the following message will appear.

5) Click OK to the message and the entry that was reversed will still be on the screen, however it will include a "Reversal No", as shown in the following screen.

6) To view the entry created, click the "Reversal No" hyperlink. The reversing entry will then be loaded and include a source of "VE" as well as a link to the entry it was reversed from, as shown below.

NOTE: All reversing entries are created as unposted and will need to be posted to update and complete the reversal.