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Can NAV make a General journal reversing entry? By this I mean, after I create a journal entry at 12/31/16, can it reverse it in the next period/year?
thank you,
Joe
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Hi Joe,
Yes it is possible on recurring journals using one of the Reversing recurring methods.
If you use one of these a reversing entry will be posted a day after your original transaction is posted.
Please find the recurring methods and their descriptions in the following msdn article: msdn.microsoft.com/.../hh172056(v=nav.90).aspx
Thank you for your help Marcell. I appreciate it.
as Marcell said it is possible to use reversing journals. I'd add a couple of things to mind when creating them:
1. NAV will always reverse the journal the next day of the original posting. Hence you have to mind what posting date you 're using on the journal
2. Make sure you define the date formula in the Recurring Frequency field. For example, if you want to keep it to the end of the month I'd recommend using 1D+CM
Hope that helps.
Even more simple approach is to reverse a transaction. There is a functionality allowing to reverse a transaction at needed date:
Follow also https://msdn.microsoft.com/ru-ru/library/hh168963(v=nav.90).aspx
Thank you Robertas. What does 1D+CM mean?
Thank you Alexander. I'm not sure this would work. I've used reverse transaction for a wire/debit. Can you use it for a General journal adjusting accounting entry?
If you have repetitive entries, it is better to set up recuring journals.
How to use dates you can read here
[View:https://msdn.microsoft.com/en-us/library/hh168904(v=nav.90).aspx:750:50]
[View:https://msdn.microsoft.com/en-us/library/hh169025(v=nav.90).aspx:750:50]
If you have entries posted from Journals (not documents) you can use Reverse transaction on Date.
Also you can use function reverse register on date if you need to reverse several entries in one time from one register.
thank you Tatiana.
1D+CM means adding one day ('1D' part) to your current posting date that brings you to the next month, and going to the last day of that month ('CM' part).
Respectively 1D+CQ would bring you to the last day of the next quarter
Thank you
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