General Journal Reverse fields

Finance and Operations/AX User Forum
1

Hi All ,

In the General Journal Header and line has the two fields Reverse and Reverse date , Can i know in which scenerio data would update in these fields ?

Thanks in advance.

2

Generally at the month end, finance department may need to post accrual entry for the services which they have received in a given month but not yet invoiced. In that case, month end accrual entry is posted with reversing date as the next month start date. system posts two voucher in this case, one at the selected transaction date and other at reversing date specified.

For invoices which has PO, we post the receipts to book the accruals, but for non PO invoice we can use reversing date feature to book the accrual.

There can be many other scenarios where voucher reversal is required.

Pranav…

3

Hi Pranav.

I created a General Journal and posted , after that i have reversed that journal. But these fields not updated.

Can i know how these fields would update ?

4

Actually at the time of entering the first journal entry, you need to check the reversing entry and provide the reversing date. based on this reversal entry is posted automatically.

Try this, while creating new general journal batch, check the reversing entry and reversing date as any date after posting date. On the journal line, enter the journal detail. Reversing data will be populated automatically. When you post the transaction, two vouchers will be posted. Hope this helps…

Pranav…

5

Pranav;

I have tried this feature. But AX 2012 does not post any transaction if the reversing period is currently “on hold”. Some other ERPs put the reversing transaction unposted and post it once the period status is changed to “Open”

Is there some work around?

Regards

Girish