Modifying a Reversing Journal Entry

The recommended practice is to NOT unapprove reversing JE's

Added 2003-02-27

Here's an email from the accounting manager at a company I used to work for:

Author: Mike Xxxxxxxx
Date: 19xx/04/02
Subject: MODIFYING A REVERSING JOURNAL ENTRY

You need to keep the following in mind when we want to modify a reversing entry that has already been approved.

The reversing JE (denoted with an "R" in the batch name) is created when the original JE is approved. If you unapprove the original JE and change it (by adding entry lines or modifying amounts or accounts, etc.) you must understand that the reversing entry created by the system is NOT automatically updated and will be posted with the now incorrect data.

The recommended practice is to NOT unapprove reversing JE's but rather to create a new reversing JE to either correct the first or to add new lines if desired. If you have a need to modify or delete an approved reversing JE rather than correct it with another JE (e.g. there are a number of some adjustments to dollar values or the account used must be changed) please see either Karen Yyyyyy or me and we will help you modify the reversing entry.

Please me if you have any questions or concerns.

Mike

This probably actually makes sense if you're a Chartered Accountant. I particularly like the closing: "Please me..."

Mike sent me a copy because I was designing the extract SQL to summarize journal entries by account and fiscal period into a data warehouse. Don't think I didn't have fun figuring out what to put into the GROUP BY.

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