How can I make reversing journal entry?
The quickest way is to
View journal entry you want to reverse. Click
Clone button, change the date and copy&paste debit amounts into credit column and credit amounts into debit column. So the new journal entry is basically reversing the original one on different day.
an auto reversing entry would be very helpful, can we please get this feature?
no, journal entries are meant for manual and thoughtful input
I think it may be useful for accrued and deferred incomes/expenses at the closing of the year. Although it would be more useful if Manager could automatically calculate the accruing values at closing by assigning each revenue/expense the corresponding period at the input.
Hi, I attached a screenshot of Peachtree’s journal entry window where you could see it has a feature for the user to tick mark if he wants the journal entry to reverse in the next accounting period. I believe Peachtree added this feature because they had in mind that though journal entries are manual inputs, auto reversing certain journal entries would also save time to the user not to mention saving him from the trouble of forgetting to reverse later on.
Please for your consideration.