Setup

To manually reverse gain or loss entries

Use this procedure only if your transactions are changeable. (Choosing changeable or unchangeable transactions)

Note:   An alternative way to reverse gain or loss entries

The Record Journal Entry window should be displayed.

  1. Enter the date (generally the first day of the current month) and a memo that indicates you're reversing the previous month's unrealized gains and losses.


  2. Enter a transaction that mirrors the transaction you made last month to record the unrealized gains and losses, but reverse the debits and credits -- if an account was debited last month, enter the same amount in the Credit column. Likewise, if the account was credited last month, enter the same amount in the Debit column.


  3. Save the General Journal entry as a recurring transaction. By doing this, you'll save time when you reverse your unrealized gains and losses in future months. Click the Save Recurring button; the Save Recurring Transaction window appears.


  4. Enter a name for the transaction, then choose a frequency (Monthly is recommended) and the day on which you want this transaction to appear in the To Do List window each month. Click Record to save your entries and close the Save Recurring Transaction window.


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