Creating Auto-Reversing Transactions

Auto-reversing transactions are transactions that are to be reversed in the next accounting period or fiscal year. A reversing transaction is normally used when entering an accrual type of transaction.

Create the journal transaction entries.
On the Journal Entries form, when creating the transactions, to indicate that this entry is a reversing transaction, select the Reversing check box.

The system creates the reversing transactions when you post the journal.

The reversing transactions total is displayed at the bottom of the Journal Account Summary form with the other totals.