In Microsoft Dynamics NAV there are two ways of performing reversals & corrections:
- When an incorrect General Journal is posted, the posted ledger entries can be reversed in the corresponding registers.
- Incorrect entries can be corrected by posting one or more corrective entries using the General Journal.
Reversal Using Registers
Open G/L Registers (Departments/Financial Management/General Ledger/History/G/L Registers).
Select a specific register entry and click Reverse Register action. The system will suggest all the lines that were initially posted in the register and you can reverse them by selecting and using Reverse action.
NOTE: You have to reverse exactly the SAME what was initially posted. For example, you cannot change the posting date
Once you have used the Reverse action, there will be a reversal entry created in the G/L Register.
Now let us try to perform reversal for an entry that was created from a document (entry 134 in this example). You will encounter an error, but why??
You can only use the Reverse Register action on the entries that are the result of a posted journal. In the above example I am trying to use the action based on the entries which are coming from a document and that is not possible. So this is something that you need to take into account when you are using the Reverse Register action.
Reversal Using Correction Field
You can, of course, enter corrections manually in General Journals. So if you have posted wrong entries, you can enter identically the same entries (same account, same accounts, etc.), but use the Correction field.
Now, you may not be able to simply display this field by using Choose Columns. However, it is available in the Gen. Journal Line (81) table. You might have to add that field in the General Journal (39) page using development environment, via object designer.
The Correction field is a Boolean field, which means that once added to the page, you can simply select or clear the field based on the fact if you want to post a transaction.
Basically what you will see is that if you use the Correction field, the system will post the opposite of the original posting. So, for example, in an original posting you will see that the positive (+) amount are posted as debit and Negative (-) amounts are posted as credit. However, if you select Correction field, the system will post Negative amounts (-) as debit and Positive amounts (+) as credit.