Journals - Reversing

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Distribution

Director of Accounting Services

GL Administrator

GL Accounting Manager

GL Accountant

GL Specialist

Related Procedures

Clearing Suspense Accounts

Ownership

The Director of Accounting Services is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

General Ledger
N ® Journals ® Enter
B ® Review Journal
B ® More Actions
More Actions

How to Reverse a Journal

You can reverse journals immediately in Journals window.

1. Open the Enter Journals window and query for the journal to reverse.

2. Click [Review Journal].

3. Click [Reverse].

4. Choose [Reversal Period] from LOV. Click [OK] on the Default Reversal screen.

5. Click [OK] (confirms the concurrent request ID).

NOTE: If you make a note of the concurrent request ID it can be used to check the status of this specific request by selecting Help ® View My Requests ® Specific Requests, then, filling the Request ID field with the concurrent request ID number.

6. Close and return to the Enter Journals screen.

7. Now find the "Reverse" journal with the following steps.

Click [View® Find].

Key in criteria to find all your "Reverse" journals done in the current accounting period. Substitute your computing ID and the current accounting period for those in the example.

Select the unposted reversal item.

8. Click 'Reserve Funds.'

9. Click [OK] to confirm funds reservation.

10. Click [Approve Batch].

11. Click [OK] to confirm batch approval.

12. The reversal of the journal is now waiting to be posted. You should check your Notifications the next work day to insure the reversal was posted.

NOTE: This example assumes that the journal you were reversing had a net dollar value that was within your Workflow dollar approval limit (self-approve). If this was not true the journal reversal would have gone back through the Workflow approval hierarchy to the first employee who could approve the journal.

13. Click the Windows "Close" icon to return to the previous screen or choose File ® Close Form or press [F4] to return to the Navigator.

Effective: 06/03/05

Revision: 3 mr

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