This procedure is used to void or reverse a journal entry that was posted incorrectly due to an incorrect period, account, amount, etc. This procedure reverses the original journal entry in the same period that it was posted to. The original journal entry is not changed.
1. Determine the journal entry number of the journal entry that should be voided. Using lookup programs or reports, identify the journal entry that was made in error and note the year and period to which it was posted.
2. Select the Journal Entry View from the General Ledger Pull-down menu.
3. Set the year and period, division and department fields in the Journal Entry View to the year, period, division and department in which the original journal entry was posted (each journal entry is posted to one year and period, but a single journal entry may be posted to mulitple departments). The Department field in the Journal Entry View is used as a default for the line items. The department field can be changed for each journal entry line. If an existing journal entry was posted to multiple departments, the void process will load the original departments into the reversing entry
4. Set the project and the batch fields in the Journal Entry view to the correct values. This information is defaulted into the journal entry lines.
5. Press the Recall a Journal Entry button and enter the journal entry number to be recalled when prompted by the program.
6. Select the Reverse JE values option and press the Recall button. This loads the original journal entry into the program with the debit amounts moved to the credit side and vice versa.
7. Verify the information shown in the program is correct, or make any required changes and enter any comments or additional information for the entry,and press the save key. The system will then post the reversing entry and display the journal entry number used for the revering entry.