If the wrong incorrect information has been entered into an Expenses Entry Expense or an Express Payment, you are able to reverse it provided the transaction has not yet been paid. .
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If an Expense has the Status of "Paid" or "Partially Paid" the payment must be reversed before the expense can be reversed. Refer to Reversing a Payment Express Payment entries will automatically reverse the expense and payment journals though. |
| 1 | Go to the Expense menu, then click Expense Search. | ||
| 2 | Search for the incorrect expense that you wish to reverse. | ||
| 3 | This will bring up a warning box Highlight the line and click the | 4 | A warning pop-up message will appear. If you are sure you want to reverse this entry, click OK. |
| 5 | Check 4 | On the reversal entry displayed, check all details are correct. Note that only open periods can be posted into. If the expense was in a prior period, the reversal entry will default to the current period. | |
| 6 | Enter a Reversal Reason. | ||
| 7 | Click Save to action post the Reversal. | ||
| 8 | If you don't want to reverse the transaction, click Cancel to exit this screen. | ||
If the period in which the incorrect Expense Entry was entered has been closed, it must be corrected by processing a negative Expense Entry. The original entry must be reversed exactly with a minus sign '-' in front of the Amount Payable and the amount in the allocation gridreversal. |
In Expense Search, the original expense will now show a Status of "Reversed", and the reversal entry shows the Status of "Reversal".