Use this subtask to determine when a reversing journal entry will reverse and to view other important information about the journal entry. To access this subtask, you must select the Reversing option on the Enter JEs screen.
Accounting
General Ledger
Journal Entries (JEs)
Enter JEs
Reversebutton
These fields display the journal entry type and journal entry number from the main screen for the journal entry you selected to reverse.
These non-editable fields display the fiscal year, accounting period, subperiod, and journal entry number of the original reversing journal entry.
Use these fields to indicate the fiscal year, period, and subperiod in which Costpoint should reverse the journal entry. If you select the Reversing option on the Enter JEs screen, you must specify this information before you save the journal entry.
The assigned JE number displays on this subtask but you cannot change the number.
The default fiscal year/period/subperiod combination differs depending on whether the journal entry is designated as both recurring and reversing, or if it is reversing only:
If you enter the cycle in the Recurring subtask before using the Reversing subtask, Costpoint retrieves the next fiscal year, period, and subperiod from the Cycle Rule table and displays them in their proper fields. If you have not determined a cycle for the recurring-reversing entry, or if the next period is not in the Cycle Rule table, these fields are blank.
The Fiscal Year, Period, and Subperiod fields will not reflect changes made in the Recurring subtask once you have entered information in the Reversing subtask. Therefore, you will need to make these changes manually.
If the entry is only reversing, Costpoint displays the next open period and the first open subperiod in the proper fields. This default information is editable.
When you post the original reversing entry to the G/L, Costpoint creates the reversal and assigns the JE number. Reversals have a separate numbering sequence from recurring and adjusting journal entries. The number assigned to the reversal will be the next sequential reversing entry number for the applicable period. This number displays in the JE Number field.