Welcome to a new series of how to guides.
The most common journal error is posting on the wrong date. If you have ever entered a journal incorrectly on Sage, you will have noticed that it is not possible to simply just delete the entries and start again. However, by using the nominal reversal option, you can reverse the transaction quickly and easily.
Sage V21 (2015) and older
Firstly, you need to know the details of what it is you want to reverse.
By looking at the audit trail you can make a note, or take a printout of the transaction numbers, date, department and reference of the incorrect journal. Then:
- In the Company module, in the Nominal Ledger section click on reversal icon.
- When prompted we recommend you take a back up before proceeding.
- On the transaction range window, enter the required range of transaction numbers, date, posting reference or posting department for the reversal and click OK.
- From the Nominal Reversals window, select the journal entries you wish to reverse then click reverse.
- To post the reversal click save.
Your journal is now reversed, cancelling the original entry.
Sage V22 (2016) or later
Sage has seen several updates over the years to help save time completing tasks such as reversing journals.
Compared to the previous method above, the process has now been simplified and the steps are now as follows:
- In the transactions tab find the transaction numbers for the journal you wish to amend
- Simply click on one of the transaction numbers within the journal and ‘edit’ at the top
- Now you can amend as much of the original journal as you would like until you’re happy that it is correct
Claudia is a Software Development Manager at Streets Chartered Accountants who specialises in Sage, Xero and QuickBooks Online.