TABLE OF CONTENTS
Description
SoftLedger automates the process when a journal entry that is created needs to be subsequently reversed at a future date. Often common with accrued revenue or prepaid expenses.
How To
Creating a Journal Entry in the User Interface (UI)
- Go to Financial > Journals
- Click on +NEW
- Input Journal Detail, Change Entry Type from Standard to Reversing
- Input Transaction Date, Posted Date, and Reversing Date
- The Reversing date will become the Posted Date of the reversing journal line item the system creates.
- The Transaction date will be the same for all journal lines in this record
- See Journal View once the Journal is created
NOTE: When viewing in the journal report, you can filter by Field Reversing Line, to see which journal lines are the reversal and note the different posted date.
Creating a Journal Entry via Bulk Journal Import Template
- Input all Journal Details
- Update Column K to reversing
- Input posted date for the desired reversing journal lines in Column L
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