Reversing posted transactions is essential for ensuring the accuracy of your financial records. Here’s a step-by-step guide to help you reverse a posted Client Receipt (CR), Client Invoice (CI), or Client Credit (CC) and make the necessary adjustments to the General Ledger accounts.
- Navigation – Go to Accounts Mode > Accounts Receivables > Accounts Receivables Inquiries and then select the Transactions item. SapphireOne will display a list of all types of transaction both posted and un-posted.
- Select Transaction – From the list of transactions, select and highlight the posted Client Receipt (CR), Client Invoice (CI), or Client Credit (CC) that you wish to reverse.
- Sapphire Tools – Next navigate to Tools > Process and select the Reverse Transaction option.
- Resulting Transaction – SapphireOne will automatically create a Client Journal (CJ). This journal will adjust the appropriate General Ledger accounts as needed, effectively canceling out the Client Receipt (CR), Client Invoice (CI), or Client Credit (CC).
- Return to Accounts Mode > Accounts Receivables > Accounts Receivables Inquiries > Receivables Transactions and verify that the new Client Journal (CJ) exists and has been created correctly.
The financial values will only be written into the relevant G/L accounts once the new Client Journal (CJ) has been successfully posted.
For detailed instructions on reversing transactions across all areas of SapphireOne, refer to the article located at: Sapphire Tools > Specific Tools > Reverse Transaction Tool.