Reverse Ledger records
Within the Ledger you have the capability of reversing a record, or exemption amount. When you reverse a record or an element of a record, the original record's kept intact. When you reverse a record, an additional adjustment record is added the the journal that's a reversal of the original record.
When you reverse an exemption, 2 adjustment records are added to the journal. The first adjustment record added is the reversal of the original record. The second adjustment record added is the same as the original record but without the exemption that was reversed.
Compute's automatically called and the end result's reflected in the Ledger.
Reversing Ledger records
- From theLedgerwindow, selectTax Area LedgerorAt-Level Ledger.
- SelectGlobal,USA, orCanadato filter your view. If you select USA or Canada, next select a state or province from the list.
- SelectMore, and thenReverse.
- Complete the fields and then selectReverse.
Working with multiple records
You can reverse or reclass records individually or in bulk.
To modify a single record, select
More
on the specific record, and then select Reclass
or Reverse
.You can modify multiple records by selecting more than one.
You can only adjust a single record. It isn't possible to adjust multiple records at once.