Adjustment and elimination transactions - concept

Adjustment transactions and elimination transactions are entered for specific financial statements. To have the same corrections apply to all financial statements, it is easier to create a journal entry in the General Ledger for that specific period and reverse it on the first day of the next period. To accomplish this, you can do either of the following:

• Use the Recurring Journals (tfgld0140m000) session.
• Create a financial transaction using the Transactions (tfgld1101m000) session or the Transaction Entry (tfgld1140m000) session, and then reverse the transaction using the Reverse Entry (tfgld1295m000) session.