Reversing standard or standard PL-BS journals

You can create a reverse journal when you create the original journal entry. You cannot add, edit, or delete an account in a reversal journal.

To reverse a standard or standard PL-BS journal:

  1. Submit a Standard or Standard PL-BS journal with a status of Available for Posting.
  2. Click Reverse. The Reverse button is enabled on journals with a status of Available for Posting or Posted.
  3. Click OK when prompted to confirm.
  4. A journal is created with the name "Reversal n of <journal name>." The new journal has the same settings and adjustments, except the signs of the adjustments are reversed.
  5. Optionally, you can change the name, description, status, and effective period. You cannot edit version, periodicity, or adjustments.
  6. Optionally, you can add an adjustment note by selecting Add/Edit Note from the right-click menu.
  7. In the Status field, select Available for Posting if you want the journal to be available for posting when you submit it. If you do not want it to be available yet, leave the status as Working - Not Available for Posting; you can change the status at a later time.
  8. Select one period in which the reversal journal takes effect. You can select any period from the first posted period of the journal to the last period in the database.
  9. Click Submit.

If a journal has been posted, you can reverse the journal by finding the journal in the left pane, selecting it, and then creating a reverse journal by following steps 2 through 9 above.

To reverse the effects of a posted journal that has posted to more than one period, you must create and post one reverse journal for each period to which the original journal posted.