Option for Reversing Journal Entry

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

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

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

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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