Journal Entries can be reversed when you wish to cancel out an adjusting Journal entry.
You can only reverse Normal and Fund Transfer Journal Entries.
To reverse a Journal Entry,
- Click into the Accounting tab on the sidebar.
- Select Journal Entry.
- Go to the Journal Entry that you want to Reverse.
You can only cancel out Normal and Fund Transfer Journal Entries. Click the 3 grey dots and select Reverse JE to reverse the Journal Entry.
- Click the 3 grey dots on the right-hand side and select Reverse JE.
This pop-up appears when you select Reverse JE. Indicate the date of the Reversal and add a Memo to describe the reason for Reversal if needed. Click Save to complete.
- Indicate the date of the Reversal and add in a description under Memo if needed.
- Click Save to complete the Reversal.