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105To allocate costs for hours allocated to projects, my company utilizes a journal entry.
*We receive a spreadsheet with the hours for each project.
*The hours are put into another spreadsheet and the calculation HRS X $$$ is then input into the journal entry.
*Dr it to the project (applicable project number) and credit is to a general allocation of labor GL.
We utilize the project module and the allocation of costs is posted to the project.
However, the allocation for one project was incorrect. It should have gone to project 2266 but it was posted to 2226.
Because we post in a journal entry, I thought to reverse the incorrect posting, I could simply reverse it. Debit to the general allocation of labor GL and credit the project. However, this is NOT the case.
To make sure I was correct, I utilized our Test database.
Does anyone know of another way that could possibly be utilized to reverse the incorrect posting?
I also attempted to use the reverse transaction function and received an error message that that function is not available.
Thank you in advance.
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