Cancelling or Reversing Period End Closing

[rajesh_khater]

Hi,

The Period End Closing process creates 1 Journal Entry on the last date of the period for each Revenue and Expenditure ledger to transfer its balance to Period Closing Account, and then another Journal Entry for each ledger to transfer its balance from Period Closing Account to Retained Earnings Account on the 1st day of the next month.

If we want to reverse or cancel the Period End Closing, what are the options? Manually reversing all the Journal Entries is a huge task!

Thanks.

[jbrotto]

If you had a backup before the closing I say to restore the database to that point if no new transactions were entered that required for business needs.

[Former Member]

Hi,

Here's another option if you're using 9.1.

You prepare an excel template with all the entries created during the Period End closing. Move the debit to credit side and vice versa. Copy the entries then paste it to Journal Entry window.

Regards

[rajesh_khater]

Yeah you are right.

Is there any easy way to identify which are the Journal Entries which were created by Period End Closing, if the user forgot to enter Ref 1 or Ref 2?

Thanks.

[Former Member]

Hi Rajesh,

You can use the Remarks as your reference in identifying which fields were created by Period End Closing utility.

Regards.

[Former Member]

Yes, you would need to reverse the JE's, you may use dtw for the same.

Thanks,

Joseph

[rajesh_khater]

Which fields in DTW template I need to use to reverse it?

Do I have to manually change the Debit to Credit and Credit to Debit in DTW template, or is there any other option?

Thanks.

[Former Member]

Hi,

You can use OJDT and JDT1

Yes credit to debit and debit to credit.