Hi, how to reverse a General Journal entry? we posted a balance for a vendor account using General Journal Entry? What is the best way to reverse this? Could we create another GJ entry with negative amount?
Absolutely, post another GJ with negative values.
Note also: A vendor account is usually a sub-account and you should really avoid general journal entries, in sub-accounts (like customer account.) Postings to the vendor account should only come from purchase orders or posted payables to keep things clean.
A general journal could be used at the beginning of go-live to have a balance, however preferably I would re-enter all open purchase orders, so when they are received they have a place to land in AX and the payment will be tied to the purchase order in AX.
Go to Vendor Transactions and then you can find the “Reverse button”. clicking on this will reverse the entry for you.
Note: This Reverse will work only if the offset is not “Bank”. In case your offset is ban, go on with other suggestion.
Santosh - https://daxing2012.wordpress.com