Q1. What is a journal reversal?
A journal reversal automatically cancels out a journal on a date you choose.
On that date, Juan records reversal entries that switch the debits and credits of the original journal.
Reversals are useful for entries that should only affect one period, such as month-end accruals.
Example: you record an accrued expense on October 31 and set it to reverse on November 1. When the actual bill arrives in November, the expense isn’t counted twice.
Q2. Which journals can be reversed?
Manual Journals
Cash Journals
Q3. How do I set a reversal date for a journal?
When creating or editing a journal, click the Reversal Date field.
Choose one of the preset options:
Next Day
End of Month
End of Quarter
End of Year
Start of Following Month
End of Following Month
Start of Following Quarter
End of Following Quarter
Each option shows the date it falls on, based on the journal date.
You can also select a custom date from the calendar.
Save the journal.
Q4. How do I know a journal is scheduled to reverse?
Open the journal. Until the reversal date, it shows “This journal reverses on” with the scheduled date.
Q5. Can I change or remove a scheduled reversal?
Yes, as long as the reversal date hasn’t arrived yet.
Open the journal and click Actions in the “This journal reverses on” banner:
Edit Reversal: choose a new reversal date.
Remove Reversal: cancel the reversal. The journal stays as a regular journal, and no reversal entries are recorded.
Q6. What happens when a journal is reversed?
On the reversal date, Juan records the reversal entries and the journal status changes to Reversed.
The journal shows when it was reversed, plus a Reversal Entries section listing each reversed journal entry line.
The original journal stays on its own date, so its amounts only affect your account balances until the reversal date.
The reversal entries appear in your account balances and reports from the reversal date onward.
Q7. What can I do with a reversed journal?
Once a journal is reversed, you can only duplicate or void it.
Voiding a reversed journal voids both the original journal and its reversal entries, and resets any reconciliations linked to the journal.