Reversing Allocation Journals

The General Ledger module provides the capability to reverse journals generated by allocation processing.  This facility may be required if allocations were selected before account balances were updated with current period transactions, in an incorrect sequence, or before all journals for the fiscal period were entered.  Allocation journals are reversed through the Journal Inquiry Conversation.  A reversing transaction is created for each transaction in the journal.  The journal is not removed from the system.  It remains in the system as an audit trail of the allocation processing. 

Note:    Because the journal remains in the system, the original allocation cannot be rerun with the same allocation journal number.  The journal number on the allocation definition record for the allocation must be changed before the allocation is rerun.