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How to Create a Reversing GL Journal Entry in Sage X3

Reversing journal entries are made at the beginning of an accounting period. Their purpose is to reverse or cancel out an adjusting GL Journal entry that was made at the end of the previous accounting period.

The following steps will walk through how to setup a recurring entry and reverse it using Sage X3.

Create the GL Journal Entry that will later be reversed

  1. Go to Financials > Journals > Journal entry
  2. Create a new GL Journal entry that will be reversed next month.
  3. Select “Yes” in the Reversal drop down and enter the ‘Reversal date’.
  4. Click the Create button when finished.

Journal Entry STDCO

Create the reversing entry

  1. Within the GL Journal entry task, select the ‘Reversing’ option from the Zooms menu in the right list.
    • Select the Debit <=> Credit option to post the reversing entry as reversed debits and credits or select Amount <=> Negative Amount to post the reversing entry as a negative debit and credit.
    • Enter the ‘Reversal Date’
    • Click ‘OK
      Reversal Parameters
    • Once you click OK the newly created reversal entry will appear on the screen
    • The ‘Default description’ field will show the original GL Journal number.

    Journal Entry STDCO2

  2. Users can also reverse a single or multiple entries by using the Reversals function located at Financials > Current Processings > Reversals.
    • Additional criteria filters are available for selection

Reversals

    • Once you click ‘OK’ a log will display showing the new entries


Log Readig

Tagged With: Sage X3, How-To
LeeAnn Segan

Written by LeeAnn Segan

LeeAnn Segan is an ERP Support Specialist with RKL eSolutions LLP. She supports Sage 500 ERP and Sage X3. LeeAnn specializes in the financial and distribution modules. Her background includes managing distribution and warehousing for ecommerce based companies. When not working, LeeAnn enjoys working out, volunteering with groups that support special needs, and spending time at the beach with family and friends.

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