PSA L&P - Journal Entry: How to create a reversing journal entry

How to create a reversing Journal Entry

Scenario #1: You know you want to reverse before you enter it

Journal Entry → New Journal Entry

  • Enter your journal entry
  • Check the box “Insert reversing JE” when creating JE.
  • Click Submit
  • The journal entry will reverse the first day of the next month. It will have a link to the original journal entry.

This article goes into a little more detail.

Scenario #2: You have made a JE in a prior period you decide after the fact that you want to reverse it, but will only need to do this one time. 

To create a copy of the original journal entry and reverse the debits and credits: go to

Journal Entry → Find Journal Entry

  • Click Go next to the journal entry you want to reverse.
  • Click Memorize

  • Enter Frequency as monthly, Next Date is the date of the reversing entry, Final date is the end of month date you are reversing the entry.
  • To create the reversing journal entry go to: Memorized → Create from Memorized Transactions
  • Find the Memorized transaction you created, click Submit.
  • Go to Journal Entries, Find Journal Entry, click Go
  • Edit the Journal Entry, click Submit
  • The journal entry will never be able to create another journal entry
  • If you don’t want this journal entry on your Memorized Journal Entry Transactions List, go to Memorized → Memorized Journal Entry Transactions, find the journal entry, check Delete, click Submit

Related Articles

How to create, modify, and delete Memorized Transactions


Have more questions? Submit a request



Please sign in to leave a comment.