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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Correct of intercompan...
Microsoft Dynamics GP (Archived)

Correct of intercompany JE comes in as a reversing entry.

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Posted on by Community Member

The transaction originated as a payable transaction in the source company.  The payable transaction was voided.  We went to the destination company and attempted to use the correct feature to reverse the entry.  (We did mark the option in GL setup to allow corrections of IC transactions.)  The correcting entry appears as a reversing entry and we do not have the option to change back to standard.  Any thoughts on why this is happening?

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  • Suggested answer
    Bill Campbell Profile Picture
    Bill Campbell 12 on at

    If you enter an IC transaction in Company A then it passes the IC JE to Company B.

    Later you decide to VOID the IC transaction  - you would do that in Company A - it would void the IC transaction in Payables, and should then send a VOIDing JE transaction to Company B.

    Some else correct me if this is not the case, but I am sure that this is how we have done this in the past.

  • Community Member Profile Picture
    Community Member on at

    Hello Bill,  Thanks for your reply.  We have confirmed that when we void the transaction in the Source Company, we are prompted the make sure we void the entry in the destination company.  It does not appear that the a voiding JE is being automatically created in the destination company.  I wonder if this may be a setup issue.

  • Suggested answer
    Bill Campbell Profile Picture
    Bill Campbell 12 on at

    In your original post you talk about a reversing entry - is this a different matter than the VOID.

    The Correcting entry in the GL will give you two options as I recall - remove or remove and re-enter (not clear on the wording)

    However, the result is the first 1/2 of the transaction should be a 'reversing' of the original transaction - that gets the first posting out.  The second part of the Correcting entry allows you to re-enter the transaction, change GL account, change dates, change the breakdown of the amounts.

    Maybe this is clearer.

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