Add a reversed entry
You can create reversed entries in the
Adjustments
tab for the current period. When the period is advanced, the reversed entries appear in the next period with the same distributions, but the amounts will appear as reversed in the Trial Balance
tab and in the Adjustments
tab.Follow these steps to add reversed journal entries.
- Select theAdjustmentstab.
- Add an entry in theAdjustment Detailssection and selectReverse adjustment next period.
- Apply a debit amount for the 1st account and then a credit amount for the 2nd account.
- SelectSave.
- Select theSettingstab and advance the period for the contact.
- Select theTrial Balancetab to view the reversing journal entries. Notice that the 1st account now appears as a credit and the 2nd account appears as a debit.
note
- If the original journal entry is deleted, the reversed entry is automatically deleted as well.
- You can delete a reversed entry, but if you move back a period and then advance it again, the reversed entry will reappear for the original account distributions.
- There is not an option to have all journal entries reverse out every period. It must be done on a transaction-by-transaction basis.
