Reversing general ledger checks from an archived year

The Void Transaction command on the Edit menu is not available for cash transactions posted to archived years. To maintain an audit trail, you must reverse transactions posted to archived years.

To reverse the general ledger check, you enter a reversing transaction, and then clear both the original check and the reversing transaction. This task is in two parts.

Part 1—Enter the reversing transaction:

1. Open 1-2 Deposits and Interest, and then from the Edit menu, choose Period.
2. In the Posting Period window, select the fiscal year, and then double-click 0-Prior Year.
3. At the message verifying that you want to use this period, click Yes.
4. In the Account# box, enter the account from which the original check was drawn.
5. In the Deposit# box, enter the original check number.
6. In the Date box, enter the date of the original check.
7. In the Description box, enter a brief statement about the transaction.
8. In the grid, enter the following information:
   1. In the Account column, enter the general ledger account that was debited in the original transaction.
   2. In the Credit Amount column, enter the original amount of the check.
   3. Click File > Save.

Part 2—Clear the original check and reversing transaction:

1. Open 1-5 Bank Reconciliation.
2. In the Account# box, enter the bank account number.

3. In the Statement Cutoff Date box, enter the date of the transactions.

   Note: The date of the reversing transaction should match the original check date.

4. Click the Display Items button.
5. In the grid, select the original check and the reversing transaction and then click the Clear button.
6. Click File > Save.