Reverse a Journal Entry

Reverse journal entry postings without having to re-enter any of the data.

  • Use these steps if the journal entry you want to reverse should be posted in a fiscal period which is later than the original entry period. If you need to post a reversal in the same period as the original entry period, use the steps provided in Create a Journal Entry.
  • At least one Reverse Journal Entry Posting Group must exist before you can reverse a journal entry. To set one up, go to Financial > Setup > Posting Groups > Reverse Journal Entry Posting Group. For additional information, see Posting Group Setup.
Using the Create Reverse Journal Entry screen, you can
  • post a reversal of an existing journal entry
  • view a list of all previously reversed journal entries, whether reversed in this screen or in the Create Journal Entry screen

To reverse a journal entry:

  1. Go to Financial > Setup > Create Reverse Journal Entry.
  2. In the Journal Sequence field, select the ellipses.
    A list of previously posted journal entries appears.
  3. Choose an entry which has not already been reversed.
  4. Select OK.
  5. (Optional) Edit the Reverse Posting Date, Memo, and Description fields.
    Note: The posting date must fall in a fiscal period which is later than the original entry period.
  6. Select Save and Post Reverse Journal to post the reversing entry.
The Document Source is now Reverse Journal.