AutomaticJournal Reversal
Uploaded by
syedkareem.apps2AutomaticJournal Reversal
Uploaded by
syedkareem.apps2Automatic Journal Reversal
Author: Atef Abdelmegeed
Concept
The automatic reversal process only selects reversible journals whose categories are enabled
for automatic reversal in the journal reversal criteria set that's assigned to the ledger. The
automatic reversal option for those categories must be set to either Reverse Automatically
or Reverse and Post Automatically.
Manage Journal Categories
1. From Setup and Maintenance click on Manage Journal Categories.
2. Click on the Plus sign.
3. Enter the Name, Category key, and Description for the category.
4. Click on save and close.
Manage Journal Reversal Criteria Sets
5. Search for the task Manage Journal Reversal Criteria Sets.
6. Click on the Plus sign.
7. Enter the Name and Description for the Journal Reversal Criteria Set.
8. Select the category that you have just created.
9. Enter the Reversal Period, Reversal Method and Automatic Reversal Option.
10. Click on save and close.
Specify ledger option
11. Search for the task Specify ledger option.
12. Scroll down, In the Reversal section select the Journal Reversal Criteria set and
enable the option “Run AutoReverse after open period”
13. Click on save and close.
Enter a manual journal
14. From General Accounting click on Journals.
15. Enter the Journal Batch, Description, and Accounting Period in the Journal Batch
section.
16. Enter the Journal, Description, Ledger, Accounting Date, category, and currency in
the Journal section.
17. Enter the Account combination and amount in the Debit and Credit sides.
18. Click on Save, Complete, and Post.
19. The status for the Batch has changed to “Posted”.
Run AutoReverse
20. From General Accounting click on Journals.
21. From tasks click on “Run AutoReverse”
22. Select the Data Access Set, Ledger, and the Reversal Period.
23. Click on Submit.
24. From Tools click on Schedule Processes.
25. The status for the request became “Succeeded”.
26. From General Accounting click on Journals.
27. Click on Manage Journals.
28. In the search tab select the Accounting period and the Category.
29. Click on Search.
30. Click on the Journal that starts with “Reverse”.
31. The Journal Reversal has been automatically created and posted according to our
setup.
