by: Darrell Scott, Senior Business Consultant
I have been working with lots of different accounting systems for over thirty years. It has always amazed me that in all those systems, the system designers never thought it was worth the effort to automate correcting a Journal Entry that was processed incorrectly. The system has all the information it needs to build a reversing entry, but for whatever reason, this functionality is missing in almost every system.
You can come up with your own example of why you might want to reverse a Journal Entry. Maybe the entry was posted to the wrong period. Maybe the signs were reversed. Maybe you have a member of your staff that thought he/she knew what they were doing, but you discover after they have messed up way too much that they truly didn’t.
For whatever reason, errant Journal Entries do make their way into your General Ledger and it is a pain to post the reversal. And because most of us are doing this manually, we sometimes have the pleasure of getting to fix the correction that got posted incorrectly. Correcting the correction has always been one of my least favorite things to do.
But now, in the newest release of Sage 100 ERP (version 2015), Sage has added a new button to the Account Maintenance Transactions tab that, once clicked, will reverse the selected Journal Entry.
One button, one click! The system creates an unposted Journal Entry reversal that is ready for review and posting.
If you would like this new functionality added to your system along with 60 other enhancements in this newest release, please contact Chris Luttrell, cluttrell@CS3Tech.com, to schedule an upgrade for your Sage 100 system.