To Reverse a Nominal Ledger Journal Entry
(Accountant Plus and Financial Controller only)
1. From the Nominal Ledger window, click Reversals.
You are prompted to print your Nominal Ledger Day Book report and to make a backup of your data.
Note: We recommend that you print your Day Book and take a backup of your data so that you have a copy of your original data before you process the reversal.
2. To print the Nominal Ledger Day Book, click Print Now and select the range and output you want to use for your Day Book from the Criteria window. After you have selected the range and output to use for your Day Book report, you are returned to the Nominal Reversals window.
3. To backup your data, click Backup Now and complete the backup procedure.
When you have completed your backup, the Nominal Reversals window appears.
4. Click OK.
The Transaction Range window appears.
5. Enter the relevant journal entry information (see table below for information on individual boxes).
Note: You can find your journal entry details from the Nominal Ledger Day Book that you printed in step 2.
6. To continue with the reversal procedure, click OK.
If no transactions are found with the details you have entered, a message appears. Click OK to return to the Transaction Range window.
If matching transactions are found, the Nominal Reversals window appears listing the matches.
7. Highlight the items you want to reverse.
Note: The total debit and total credit amounts must be equal.
8. Click Reverse.
Note: If the journal you are looking for is not displayed in the list, you may have used the wrong transaction range or date. Click Range to enter the correct details and then click OK to return to the Nominal Reversals window.
If the selected items do not balance, a message appears informing you that your debits and credits must be equal before the journal can be reversed. Click OK and make your selections again.
If the selected items do balance a confirmation window appears, showing the transactions you have selected to reverse. You cannot change the information shown here.
9. If the information shown is correct and you are sure that you want to reverse this journal, click Save.
If the information is incorrect, click Cancel to return to the Nominal Reversals window.
The reversal journals are posted to the audit trail with the original journal transaction date, a reference of 'REVERSE' and details of 'Reversal of Original Transaction Number'.
You have now completed the journal reversal and should re-enter the original journal using the correct details. To look at the reversals you have made, run the Day Books: Nominal Journal Reversal Report from the Nominal Reports option.
Enter the following information to reverse your nominal journal:
Your next step...
To Run a Nominal Ledger Report
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