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How to Reverse Out a Journal Entry

The purpose of this document is to learn how to reverse out a Journal Entry if processed incorrectly and or in error

If you have completed and processed a Journal Entry by mistake or it’s posted to the wrong GL codes, or the debits and credits were meant to be the other way around. Here is a simple process on how to reverse it out.

 

This is a 2 part process which includes finding the Journal Entry and copying the journal.

 

1. Find the Journal Entry you processed incorrectly.

 

  • Go to General Ledger Journal Entry 
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  • Click on the Reference ellipsis and you will see a list of journals 
 
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  • Search for the Journal Entry by:
    • Ref1
    • Ent Date
    • Post Date
    • Description
  • Simply click into the column and type in the ref number or description and so on.
  • Once you have found it either click Enter or OK
 
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  •  Your journal that was processed incorrectly will appear in front of you
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2.  Copy the Journal
  • Click Copy Journal

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  • A message will then pop up asking “Do you want to reverse this Journal?”
  • Click Yes

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  • It will then say that Journal has been copied

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  • The journal will be copied and the debits and the credits will moved automatically for you
  • Click Post

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  • It will then post the journal for you and you will need to process another journal with the correct information. 
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