The procedure to reverse a financial batch is as follows:
- Navigate to Quick Menu > System > Configuration > Financial Batches. The Financial Batch List window is displayed, revealing a list of financial batches in the Financial Batch List summary table.
- Double-click on the row containing the specific batch to be cancelled. The Financial Batch window is displayed, revealing the unique Batch ID number and all associated account postings.
- Click on Reverse Batch. Equal and opposite transaction postings are created for each ledger account code value contained in the original batch.
- Click on Close. The status of the financial batch is set to Reversed and the total value is updated to zero
1.
Note
1 Only batches with a status of 'Posted' can be reversed.
2 To uphold transaction audit integrity, it is common practice to submit a financial batch that has been reversed, capturing the original and reversing entries.
See related topics...
To override a financial batch posting
To cancel a financial batch
To generate a financial batch
To submit a financial batch
Financial batch management overview
