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Reversing transaction (Read 356 times)
Irma
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I need help!!

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Reversing transaction
11/21/08 at 07:41:27
 
Does the system have a way that allows you to reverse a posted transaction without having to do a General Journal? Please advice.
 
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Irma
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Lynn_Pantic
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evolution (n) -
gradual change to a
different form

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Re: Reversing transaction
Reply #1 - 11/21/08 at 08:27:44
 
It depends.  What kind of entry are you trying to reverse?  Making a Journal entry will only reverse the GL posting so if the entry was in AP or AR or anything to do with inventory, you need to reverse the entire original action (voucher, PO Receipt, whatever it was) so that all the subsidiary entries are also reversed.
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Lynn Pantic
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