Need to Back Out GP General Journal Entries?
If you have a general journal entry that was posted incorrectly, either with a wrong posting date or wrong GL account numbers or amounts, did you know that you can easily back out a Dynamics GP general journal entry and post a correcting entry without having to re-key the entire transaction manually?
Here’s how to back out GP General Journal Entries
- Go to Financial > Transactions > General
- Click on the Correct button
- Click on the Action down arrow to select whether you want to just back out an entry or back out a journal entry and create a correcting entry
- Select the Year
- Enter the number of the general journal entry to be corrected
- Click on OK
- The window will fill in with the entry to be backed out (original entry reversed)
- Leave as is and click on Post
- If you selected the “back out a GL entry and create a correcting entry” action, then a second journal entry will be created. This contains the date, accounts and amounts from the original journal entry. Make any necessary changes then Post.