Reversing a journal entry

Note: For instructions on reversing a subsystem journal entry in the originating subsystem, see the documentation for the subsystem.

You can define a reversing journal entry to reverse an incorrect journal entry that has been posted to the General Ledger application. You can then define a new, correct journal entry, if needed. This procedure describes the process for reversing a journal entry.

If you are posting the reversing journal entry or a new journal entry to a previous period, you must open the period for backposting.

  1. Access Company (GL10.1).
  2. In the Company field, select the company that you want to reverse a journal entry for.
  3. Select the Inquire form action.
  4. On the Main form tab, click Backpost to open the Backposting Control subform.
  5. In the Status field of the period where you want to reverse a journal entry, select Backposting Allowed.
  6. Select the Change form action.
  7. Create a reversing journal entry by copying the journal entry that you want to reverse with Yes selected in the Reverse Values field. You can assign a new post date to the reversing entry. See Copying a Journal Entry.

Follow-up tasks

  • Release the journal entry. See Releasing journal entries.

  • Post the journal entry. See Posting Journal Entries.

  • If you opened a period for backposting in the current year, close the period you opened using Period Closing (GL199). Or, if you opened a period for backposting in the previous year, close the period you opened and close the last period of last year. Closing a period or year-end