Reverse Journal Postings and Undo Receipts/Shipments
Reverse journal postings are useful, for example, for correcting errors and for clearing out an old accruals entry before entering a new one. A reverse entry is the same as the original entry, but has an opposite sign in the Amount field. The reverse entry must have the same document number and posting date as the original entry. After you reverse an entry, you must make the correct entry.
You can only reverse entries that are posted from a general journal line. An entry can only be reversed one time.
To undo a receipt or shipment posting, before they're posted as invoiced, you can use the Undo function on the posted document. You can undo quantities of type Item and Resource.
If you've posted an incorrect negative quantity, such as a purchase order with the wrong number of items, as received but not invoiced, you can undo the posting.
If you've posted an incorrect positive quantity, such as a sales shipment or a purchase return shipment with the wrong number of items, as shipped but not invoiced, you can undo the posting.
To reverse the journal posting of a general ledger entry
You can reverse entries from all Ledger Entries pages. The following procedure is based on the General Ledger Entries page.
The entry must originate from a journal posting.
Also, you can't reverse entries that have been posted with information from a job, or which have realised gains and losses within the same transaction.
- Choose the icon, enter General Ledger Entries, and then choose the related link.
- Select the entry that you want to reverse, and then choose the Reverse Transaction action.
- On the Reverse Transaction Entries page, choose the Reverse action.
- Choose Yes to confirm the reversal.
To post a negative entry
Use the Correction field to post a negative debit instead of a credit, or to post a negative credit instead of a debit on an account. By default, the field is available in all journals. The Debit Amount and Credit Amount fields include both the original entry, and the corrected entry. These fields have no effect on the account balance.
- Choose the icon, enter General Journals, and then choose the related link
- In the Batch Name field, select the required batch name.
- Enter information into the relevant fields.
- In the journal line that you want to activate for negative entries, select the Correction check box.
- To post the journal, choose the Post action, and then choose the Yes button.
To undo a quantity on a posted purchase receipt
The following steps describe how to undo a posted receipt of items or resources. The steps are similar for posted shipments.
- Choose the icon, enter Posted Purchase Receipts, and then choose the related link.
- Open the posted receipt that you want to undo.
- Select the line or lines that you want to undo.
- Choose Undo Receipt action.
A corrective line is added under the selected receipt line. If the quantity was received in a warehouse receipt, then a corrective line is added on the posted warehouse receipt.
The Quantity Received and Qty. Rcd. Not Invoiced fields on the related purchase order are set to zero.
To undo and then redo a quantity posting on a posted return shipment
The following steps describe how to:
- Undo a posted return shipment of items or resources.
- Re-post the purchase return with a new quantity.
The steps are similar for posted return receipts.
Choose the icon, enter Posted Return Shipments, and then choose the related link.
Open the posted return shipment to undo.
Select the line or lines to undo.
Choose the Undo Return Shipment action.
A corrective line is inserted in the posted document, and the Return Qty. Shipped and Return Shpd. Not Invd. fields on the return order are set to zero.
Now go back to the purchase return order to redo the posting.
On the Posted Return Shipment page, take a note of the number in the Return Order No. field.
Choose the icon, enter Purchase Return Orders, and then select the related link.
Open the return order in question, and then choose the Reopen action.
Correct the entry in the Quantity field and post the purchase return order again.
Reversing Journals to Correct Mistakes
When working with journals that have many lines and something goes wrong, it's important to have an easy way to correct mistakes. The Posted General Journal page offers a couple of actions that can help.
- Copy Selected Lines to Journal - Copy only the lines that you select.
- Copy G/L Register to Journal - Copy all lines that belong to the same G/L register.
These actions let you create a copy of a general journal line or a batch, and then specify:
- The journal to copy the lines to
- Whether with opposite signs (a reversing journal)
- A different posting date or document number
To allow journals to be copied to posted general journals, on the General Journal Templates or General Journal Batch pages, choose the Copy to Posted Jnl. Lines checkbox. After you allow people to copy posted general journals, if needed you can turn off copying for specific batches.