How to cancel a manual Journal Entry

How to cancel/reverse a manual journal entry

You cannot delete a journal entry but you can post a reversing journal entry or simply cancel the manual journal entry.

Tip: For all journals created automatically by transactions such as Invoices, Payments etc. there is a reversing transaction for each of these.

To cancel a manual journal entry:

• Click on Finances > Journals

• To find your Journal you can enter the number of the journal into the Search box or simply enter the words 'Journal Entry' into the Document No. column to give you a full list of the manual journals you have added. You can reduce the search down further by setting a filter on the Posting Date column. See example below.

• When you have located your journal drill into the journal through the Journal number link.

• Now click on Actions then choose Cancel.

• A message will appear for you to confirm that you are cancelling the manual Journal Entry, click on OK to proceed.

• Once the Journal has been cancelled the status will now be changed to show this as per below example.

• If you now look at your list of Journals in Finance > Journals you will see a new journal entry has been posted which shows that it is a Reversal in the Remarks column.

• When you drill into this reversal Journal entry you will see that the Debit and Credit columns both have minus amounts to show that the postings were reversed.