How can I delete a reversing entry?

Reversing entries can be set up in the General Journal Entry task.  The reversing entry is entered and then the box, Reverse Transaction is checked.  The actual reversed entry is posted in the next accounting period.  You can view the reversed entry in the General Journal or the General Ledger report.  To delete a reversing entry:

  1. Select General Journal Entry from the Task menu
  2. Enter a new transaction in the current month to reverse it
  3. Click Save

or

  1. Select General Journal Entry from the Task menu
  2. Click the Open button

Peachtree displays a list of all the transactions for the current period.

  1. Use the drop down box from the Show field and select the prior period
  2. Double-click on the transaction that was used to create a reversing entry
  3. Uncheck the Reverse Transaction box
 

Click Save.

-- by Gayle Raines, Director of Training at Baytek, an Authorized Peachtree Resource Center.

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