How to tutorials

Use Reversing and Correction Journals Video


Welcome to our ""How to use Reversing & Correction Journals" in Financials for Office 365 video.
Today, we are going to show how you can automatically create and post correcting entries with the same document number and posting date as the original entry using the reverse function, in Financials.  
The automatic reversal can be a very useful function if you want to reverse everything exactly the way that you initially posted it, because the only thing you have to do is click on reverse and everything will be reversed.  
To undo an incorrect journal posting, involves selecting the entry and create a reverse entry (that is identical to the original entry but with opposite sign in the amount field) with the same document number and posting date as the original entry. After reversing an entry, you must make the correct entry.
There are two ways to reverse an incorrect posting, You can either reverse the complete register if the whole batch was posted incorrectly, or you could also go to the general ledger and use the reverse transaction function from there if you want to reverse a single journal transaction.
To learn even more, go to our How-to-video page on our website.
http://www.o365financials.com/learn/how-to-tutorials/standard-edition-videos

For more information go to www.o365financials.com