Reverse Entry (tfgld1295m000)

Use this session to create a new transaction document and to reverse already posted transactions.

You must select the transaction to be reversed and specify the details of the reversal transaction.

To create a new transaction document, on the New Document tab, select the Create New Document check box, and then specify the new document details.

You can use the new document to correct the transaction you reverse. You can change the amounts on the new document in the Transactions (tfgld1101m000) session.

LN assigns new batch numbers to the reversal document and the new document when you create one. You must finalize the new batches in the standard way.

If you click Continue, LN creates the reversal transaction and the new transaction document if required, and prints a report of the reversed document and the new documents.

Note: You can select the posting periods. It can be necessary to post the new document in a different period than the original document.

You can create reverse entries for finalized transactions for the following transaction types:

Journal vouchers.
Sales invoices that you entered in Financials.
Sales credit notes that you entered in Financials.
Purchase invoices that are not linked to purchase orders.
Purchase invoices that are not yet matched or approved.
Opening balances.
Some cash transactions such as advanced payments/receipts, unallocated payments/receipts, and journal entries.

Field Information

Reverse Entry

Original Document

Transaction Category

Journal Vouchers
Cash
Not Applicable
Recurring/Reversing Journals
Sales Invoices
Sales Credit Notes
Sales Corrections
Purchase Invoices
Purchase Credit Notes
Purchase Corrections
Opening Balance

Document

The transaction type of the document code.

Document Number

The series part the document code.

Line

The line number part of the document code.

Registration Code: The registration code of the jurisdiction by registration.
Create New Document: If this check box is selected, LN creates a reversal transaction for the posted transaction. By default, this check box is selected.
Transaction Category: The transaction category to be reversed.
Document: The transaction type to be reversed.
Document Number: The document number of the transaction to be reversed.

BP's Invoice Number

invoice number

Reverse with negative Amounts

If this check box is selected, LN reverses the transaction amount with the negative amounts.

Note:

This field is enabled only if the Document for the reversal document allows negative amounts.
If this check box is cleared, the debit/credit sign of the transaction is reversed.

Document Date

document date

Transaction Entry Date

transaction entry date

Financial period

The fiscal year and period of the transaction to be reversed.

Reporting Period

The reporting year and period of the transaction to be reversed.

Tax Period

The tax year and period of the transaction to be reversed.

Batch

batch

New Document

Create New Document: If this check box is selected, you can specify the details of a new document.
Transaction Category: transaction category
Document: transaction type
Document Number: The document number of the new document.
BP's Invoice Number: invoice number
Use original Rate: If this check box is selected, LN uses the rate data (rate, rate date and rate factor) of the original transaction document for the new document. By default, this check box is cleared.
Document Date: document date
Transaction Entry Date: transaction entry date
Financial period: The fiscal year and period.
Reporting Period: The reporting year and period.
Tax Period: The tax year and period.
Batch: batch