Under Review

Reversing G/L entries

It would be great to be able to reverse a journal entry in a future period. We do many expense accruals each month and must manually reverse the accruals in the following month.
  • "yup... just need a reversal date field, and if filled in, reverse the entry

    and if I then alter the record, and remove the date, reverse the entry "

  • What I have done, is create the accrual, then create a temporary recurring entry for it. Post the accrual. Pull up the newly created recurring entry, verify the date and put a negative in front of each amount.

  • "I find it hard to believe with the Cdn product that you can't post a journal entry and have it automatically reverse itself on the first day of the next period. This is basic accounting and should be 'an automatic' in any software package.

    Although somewhat cumbersome, calling up the accrual, clicking on 'reversal' and then being able to manually change the date to the first of the month would work. I understand this is available on the US product."