Option for Reversing Journal Entry

alfit
alfit
in Integrations and extensibility

Hi All,

I'm a new member..

I just wanna know about options in reversing journal entry in Anaplan , there are 3 options :

1. Single-sided

2. Reverse next Month

3. Reverse next fiscal year

could someone help me to describe the purpose of each options above

 

Thank You and regards

 

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Answers

  • anupgade
    anupgade
    please provide some more details (examples/screenshots)
  • alfit
    alfit

    Thank you Mr. Anupkumar.Gade,

    I've attached screenshoot below

     

     

  • naushad786
    naushad786

     

     

    Just go to Source Module from the Dashboard that you showed in the screenshot and see the logic behind it.

     

    If you are not able to understand the logic. Please attach the screenshot.  I will try to explain you.

     

     

  • anupgade
    anupgade
    look for source module(send screenshot) as said by @naushad786, besides that in simple terms, as per functional(accounting) knowledge reversing journal entry means making new entry for : crediting what was debited & debiting what was credited earlier. This would reverse the impact of earlier entry.
  • Yash1
    Yash1

    Hi @alfit ,

     

    1. Single - Sided: Basically a journal should has 2 legs to it, but in special cases you put a temporary single-sided journal. And since this is a reversing journal it will automatically get reversed after a period.

    2. Reverse next month: If you want to show some values in your books for a month you pass the journal, and since these values are for a month only you post an Auto reverse next month journal, so that the values get reversed automatically after the month.

    3. Reverse next year: If you want to show some values in your books for an year you pass the journal, and since these values are for the year only you post an Auto reverse next year journal, so that the values get reversed automatically after the year.

     

    Thanks,

    Yash

     

     

  • alfit
    alfit

    Hii Anupkumar.Gade, Naushad & Yash

    Thanks a lot for your responses,

     

    actually we have an issue about journal that not reversed after pass a year. the option is reverse in next fiscal year.

    do we have to do something, so far we just create and complete the journal and click the reversing options. some journal

    reversed properly in next month but not the yearly ones.

     

    Thanks & regards

     

  • Yash1
    Yash1

    Hi @alfit ,

     

    Which application are you using, Is it your own application or are you using any prebuilt Anaplan application like Financial Consolidation - IFRS.

     

    Some screenshots would also be helpful.

     

    Thanks,

    Yash  

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