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VT Transaction+

Navigation: Entering transactions (including opening balances)

Reversing Journals

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A reversing journal is identical to an ordinary journal except that it also contains a reversal set of entries. The reversal date is normally the first day of the next accounting period, but you can specify any date after the originating date. A reversing journal is useful for entering temporary adjustments such as accruals and prepayments.

To enter a reversing journal, click on the RJN button the main toolbar. As with normal journals, a reversing journal can be entered using the classic style, trial balance style or import dialogs.

To change an existing journal into a reversing journal or vice versa, click on it with the right mouse button in any report and choose Change Type from the pop-up menu.