on 09-30-2015 4:28 PM
Hello Everyone,
How can I reverse the Deferral Posting of a Leasing Contract? Is there prerequisites?
What would be the resulting documents?
Thanks in advance,
May
Hi May Hussein,
You have to use T-code - "RERAALCNRV - Reversal of Accrual/Deferral Postings" for this purpose.
Prerequisites for executing this transaction - System will allow you to reverse only the last accrual/Deferral entry. I mean, if you have executed the accrual entry till 10th period and for some reason you want to reverse 8th period entry. You have to first reverse 10th period, followed by 9th and 8th period.
Resulting documents:
In order to understand reversal entry, first see what happened when we run accrual/deferral posting using t-code RERAALCN. Accrual/Deferral postings make two entries in books of accounts.
In below example, we make revenue posting for a quarter where monthly rent is 4000 USD.
Entry 1.
Default Revenue (P&L Account) -------------------------------- 12000 USD
Accrued Revenue (B/S account) ------------------------------- 12000 USD
Entry 2
Accrued Revenue (b/s account) ---------------------------------- 4000 USD
Default Revenue (P&L Account) --------------------------------- 4000 USD
So, when we execute reversal of accrual/deferral entry using t-code RERAALCNRV, system again makes two entries as shown below and this time it will reverse the entry posted earlier. So, entries will be like :
Entry 1.
Accrued Revenue (B/S account) ------------------------------- 12000 USD
Default Revenue (P&L Account) -------------------------------- 12000 USD
Entry 2
Default Revenue (P&L Account) --------------------------------- 4000 USD
Accrued Revenue (b/s account) ---------------------------------- 4000 USD
Isn't it simple
Regards,
Amar
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