Reversing a Transaction

Transaction reversals can be carried out on Customer transactions, Supplier transactions and Journal Entries.

Reversing Customer Transactions

Menu Path: Customers → Inquiries & Reports → Customer Inquiry

• Select the Customer.
• Double click on the transaction that you would like to reverse.

• This will open another form as illustrated below.
• Select the type of transaction to be used for the reversal (e.g. Credit Note).
• Click on the 'Confirm' button.    

Once the reversal is posted, a reversing transaction (depending on the original transaction selected) will be created and automatically allocated to the original transaction.

In cases where a reversal is created against a transaction that has already been allocated, the reversing transaction will not be automatically allocated with the selected transaction and will remain outstanding. 

Notes:
From Receivables you can only reverse transactions that have been created from the Receivables module.
From Payables you can only reverse transactions that have been created from the Payables module.
From Nominal you can only reverse transactions that have been created from the Nominal module.
Insurance Transactions are reversed from Insurance - Processing - Amendments.

Reversing Journal Entries

Menu Path: Nominal → Inquiries & Report → Trial Balance Inquiry

• Select the Year and Period
• Double click on the Nominal Account
• Double click on the Period to view the transactions in that period.

• Double click on the transaction you wish to reverse.

• Select the 'Type' of transaction that will be used for the reversal, in this case 'Journal'.
• Click on the confirm button to reverse the journal entry.
• This will create another journal with opposite debits and credits to cancel off the previous entries.

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