If you want a large journal to automatically reverse itself, you can create and post a large reversing journal. This is a large journal that automatically reverses itself in a subsequent period.
To create a large reversing journal:
- Select the large journal with a status of "In Progress" or "Complete" that you want to reverse.
- Click Reverse Large Journal.
- Do one of the following:
- Accept the default reversal period (one period after the period specified on the source journal).
- Amend the reversal period as required. The reversal period must be an open period
An accounting period to which a user can save documents and post transactions..
- [Optional] Edit the journal date, reference and description fields.
- The large reversing journal inherits the status of the source large journal, therefore:
- If the source large journal's status is "In Progress", click Save to create the large reversing journal.
- If the source large journal's status is "Complete", click Save & Post to create the large reversing journal and immediately post it.
- If the source large journal is still "In Progress", click Post on its detail page. The source large journal's status is now "Complete".
- If the reversing large journal is still "In Progress", click Post on its detail page. The reversing large journal's status is now "Complete".