The transaction reversal process reverses the original transaction and all related transactions that were created when the original transaction was posted. Before you reverse a transaction for the first time, select a number sequence for the and references on the tab in the form.

About reversing transactions

The following requirements apply when you are reversing transactions:

  • You must perform the reversal where the transaction originated. For example, you cannot reverse from General ledger if the transaction originated in Accounts payable.

  • You must reverse transactions in proper sequential order. For example, if you applied a cash receipt to a transaction, you must reverse the receipt settlement before you reverse the transaction.

Reversals that affect fixed assets

The following additional requirements apply when you are reversing a transaction that affects a fixed asset:

  • When in General ledger, you must use the form instead of the form to reverse transactions. For more information, see Account transactions (form).

  • For , , or type reversals, the fixed asset must have a status of or . For type reversals, the fixed asset must have a status of or . For all other asset reversals, the asset involved in the transaction must have a status of .

Note Note

Fixed asset transaction reversals reset fixed asset field values to their previous values. For example, an asset status might be reset from to , or the field might be reset from 119to 120.

Reverse a transaction

  1. Click > Common Forms>


    > Common Forms>


    > Common Forms> >


    > Common Forms> >


    > Common Forms> .

    Note Note

    Invoices that are partially paid or settled (fully paid) cannot be reversed. You must reverse the settlement first, and then you can reverse the transaction. For more information, see Reverse settlements.

  2. Select an account, value model, or depreciation book.

  3. Click .

  4. Select the transaction to reverse.

  5. Click .

  6. Select the posting date for the reversed transaction. The date cannot be before the original posting date or in a closed period.

    Note Note

    Parameter settings for a module determine whether you must enter a reason for the reversal, in addition to entering a posting date. For more information, see About financial reason codes.

  7. Click OK.

See Also