Reverse a Journal Entry

To create a Journal Voucher transaction for reversing a journal entry, perform these steps:

1. Create an instance with the desired JV Transaction Code.  

2. On the Header tab enter the following:

1. Reversal Date: Desired date in the future for the reversal.

2. Create Reversal Transaction on Hold: If an update to the reversal is required, make this indication.

3. Skip the Line Group tab and navigate to the Accounting tab.

4. Complete the Accounting tab (Sample is an expenditure accrual. Other types of reversals will involve different posting codes and chart of accounts)

1. Insert an Accounting Line and enter the following:

1. Posting Code: D011

2. Debit Amount: Amount to be accrued

3. COA: The desired chart of account codes to record the accrued expenditure

2. Copy and paste the 1st Accounting Line to create a 2nd and change the following:

1. Posting Code: Change to A015

2. Debt Amount: cut and paste to Credit Amount

3. BSA: Enter the Accrued Payables account

Note: No other fields are mandatory but system configuration may make them conditionally required.

5. Validate the transaction.

6. If errors exist, fix the errors and repeat Step 5.  If no errors exist, then continue with Step 7.

7. Submit the transaction.

1. Enter A015 over D011 in the Posting Code field.

2. Clear the Debit Amount field.

3. Enter the amount received in the Credit Amount field.

4. Enter the value for the Accrued Payables (or other site-specific value) field on the Accounts Payable tab of the Special Accounts (SPEC) page in the BSA field.

Note: No other fields are mandatory but system configuration may make them conditionally required.  This can include the Line Description from Transaction Control (DCTRL).

An optional step would be to navigate to the Future Transaction Trigger (FDT) page and enter the desired field in the Transaction Prefix to be used when the trigger occurs.