Reversing

Enter the Fiscal Year, Period, and Subperiod in which the system should reverse the journal entry.This information is required before you can save the JE if the Reversing checkbox on the main screen is selected.

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, the system retrieves the next Fiscal Year, Period, and Subperiod from the Cycle Rule table and automatically 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 will be 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, the system defaults the next open period and the first open subperiod into the proper fields. The default information is always editable.

When the original reversing entry is posted to the G/L, the reversal is created and the JE number assigned.

Reversals have a separate numbering sequence from recurring and adjusting JEs. The number assigned to the reversal will be the next sequential reversing entry number for the applicable period. This number will display in the JE Number field.