A separate reversal process can't be done. If the transaction is in the process of being reversed, that process must be completed.Transaction reversal is already in process: If a new transaction is posted to an open period of the fiscal year that has been through the year-end close process, the year-end close must be run again. It might be easier to manually enter a reversing transaction in an open period of either the closed fiscal year or the next fiscal year, depending on the status of the fiscal close process. The year-end close can be reversed, and then the transaction can be reversed.The fiscal year has a different status than the periods in it. Although a period in the fiscal year might still be open, the transaction can't be reversed if the year-end close process has been run for the fiscal year. The transaction's accounting date is in a fiscal year that has been through a year-end close.If the transaction supports entry of a reversing date, the transaction can still be reversed by changing the reversal date to an open period.If the reversing date is in a fiscal period that isn't open, the transaction can't be reversed.The fiscal period is on hold or permanently closed: Transactions can't be reversed for the following reasons: Reasons why transactions can't be reversed Those transactions are reversed from the pages that the year-end close was run from. The exceptions are General ledger foreign currency revaluation, consolidation, and year-end close transactions. If the Mass reversal feature is turned on, one or more general ledger vouchers can now be reversed from the Voucher transactions page, and from the journal that the transaction was posted from. It's typically opened from the Trial balance list page, or by selecting Transactions on the Voucher transactions page. (The exact title of the page varies, depending on the selected main account.) The page shows each transaction that has been posted to the main account. If the Mass reversal feature is turned off, most general ledger adjustments can be reversed individually from the Transactions for page for the ledger ( LedgerTransAccount). Therefore, they update only General ledger. General ledger adjustments are entered only by using ledger accounts. For example, purchase order vendor invoices can't be reversed, regardless of whether the Mass reversal feature is turned on.įor more information about the Mass reversal feature, see Reverse journal posting. If a transaction type could not previously be reversed, it still can't be reversed after the feature is turned on. The Mass reversal feature does not enable more types of transactions to be reversed. Each section of this article explains the types of transactions that this benefit doesn't apply to. However, it can now be reversed from the General ledger side too, from the journal or the Voucher transactions page. For example, a vendor invoice journal could previously be reversed only from the Vendor transactions page. They don't have to be reversed from the subledger page.
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