Reversing General Journal Entry

Business Central/NAV User Forum
1

How do you do a reversing General Journal Entry? I see the field for “Reversing Entry” if I do a zoom on the line, but am not sure how to set that to “Yes”. Navision’s help simply states that this is a field used internally by the program. Thanks in advance. Jen

2

Typically you’d simply write the opposite entry that you are trying to reverse. There is a field called Correction that allows you to post a ‘reversal’ in such a way that you get a negative debit and credit vs. a debit applied to your credit.

3

Lokk in General Ledger, Periodic Activities, Recurring Journals. This faciltiy can be used to post and then reverse (at a later date) a G/L Entry for accruals and pre-payments.

4

Hi Jsrark

I have tried it but its not work can u give a example for it.

Thanks

Naveen

5

Did you try reversing the register?

General ledger–>History–>Registerss…

6

To reverse a general ledger entry, either you can use the functions–> reverse transaction from the General ledger entries or you can go to the register then functions–> reverse register.

You can reverse the transaction posted only through Journal.

7

Yes Mohana,

I tried that way i mean i know how to reverse a journal entry, but was looking for automation as my client will post a journal today and it should be reversed on a future date, can we have option of this.

Thanks

Naveen

8

2 options:

  1. examine Recurring Journals, Recurring method = one of Reverse. This, however, limits you to reversing on the next day after initial PostingDate and is mainly used on month end boundary to post evaluated average expenses for month’s trial balance.
  2. upon creating the Journal, add the reversing lines at once - but then you must know that future date
9

Hi Modris Ivan

I am trying the 2nd option in General Journal i am inputting in the field recurring method as Reversing Fixed and there there required field i mean recurring frequence , but its giving error the field much be empty on recurring method.

Thanks
Naveen.

10

Hmmm… strange…

Just tried in DEMO company Reversing fixed with posting date 31/01/11 and Rec. frequence = 1M+1D-1D (this gives next month’s last day, never mind how many days in a month) and it posted without problems, setting next post date = 28/02/11

This is not the place where someone is likely to modify anything - but in standard base it works…

11

Hi

I am tryign this but doesnot works 4375.Journal.bmp (2.99 MB)

12

HI Forum

Thanks for your replies.

I got to know how a reversal entry can be passed in the navision, as i said my cilent is looking for reversal entry for future data. But

In Recurring G/L entry when i use a reversal fixed as a method in recurring method field, the entry is reversing on the next date but can we change that next date to future date.

Can Anyone know this.

Thanks

Naveen.

13

As I already wrote earlier, in standart you can not enter date for reversing entry in Recurring Journal, it is next day by design. The purpose of this Journal actually is NOT what you need, as I understood your question, you need only 1 pair of entries, not repeating them regularly every month / quarter / period.

You can enter your transactions in General Journal, adding the reversing line together with the original entry - then you may enter whatever PostingDate for reversal you wish.
However, I can’t imagine from accounting point of view what for the customer needs such entries, if this is NOT for the purpose I mentioned - estimated expenses for trial balance, which are reversed and later substituted with precise amounts, when they become available…