To reverse a General Journal entry

Use this procedure only if your transactions are unchangeable. See What are changeable and unchangeable transactions? for more information.

The General Journal entry you want to reverse should be displayed in the Record Journal Entry window. If you need help doing this, see To find a General Journal entry.

1. Choose Reverse General Journal Transaction from the Edit menu. After a few moments, a new transaction, containing amounts exactly opposite of the amount in the General Journal entry will be displayed in the Record Journal Entry window.

If you want, you can make a few changes to the new transaction such as the date and the memo, but you can't change the accounts and amounts that are associated with it.

If you're reversing a General Journal entry from a previous accounting period, consider assigning a date from that period to the new transaction. This will allow your reports for that accounting period to reflect the proper amounts.

2. Click Record to record the reversed General Journal entry. At this point, the General Journal entry is reversed. All account balances have been returned to their previous levels.