How to Correct/Backout Posted Journal Entries in Dynamics GP?

Suppose users posted the General Journal Transactions with wrong entries like Incorrect date, Account Number, etc,. For this case Dynamics GP providing the functionality for correcting these transactions. Follow below steps to correct the posted Journal Entries.

1. Open GL Transaction Entry window (Transaction–>Financial–>General).

2. In top of that window, click the Correct button near by Post button.

3. Now you can see the Correct Journal Entry window.

4. For correcting Journal Entry, users can follow below two type of options.

Back Out a Journal Entry

If user choose “Back Out a Journal Entry” option, GP will create a reversing entry for the original posted Journal Entry. Users need to post that reverse entry then enter new entry for original one with correct values.

Back Out a Journal Entry and Create a Correcting Entry

If choose “Back Out a Journal Entry and Create a Correcting Entry”, then GP will create a reversing entry for the original posted Journal Entry as well as correcting Journal Entry with same records like Posted Original Journal Entry. Then user should post that reverse entry and need to correct the newly created entry.

5. Enter the transaction year for the posted Journal Entry.

6. Enter posted Journal Entry Number and click OK button.

7. Now GP will automatically create reversing entry if users was choose “Back Out a Journal Entry”. If users was choose “Back Out a Journal Entry and Create a Correcting Entry”, GP will automatically create both reverse and correction entry.

8. Click the Post button to directly post the transactions from same window or Save the transactions to batch and post the same in Financial/Series/Master Batches window.

Note: The back out journal entry transaction date should be same as to the original entry transaction date.

Hope this helps!!!

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6 comments

  1. Once I initially commented I clicked the Notify me when new feedback are added checkbox and now each time a remark is added I get four emails with the same comment. Is there any way you possibly can remove me from that service? Thanks! dgkcdbdkcfgc

  2. I appreciate the instructions and helpful hints – but what do you do when an error message comes back saying there are job cost entries that won’t be corrected? I’m using GP and WennSoft Job Cost

  3. Hi Soma

    Our GP settings for maintaining history had been changed sometime last week. We were processing journals into Mar 15 period, but these were not picking up as March closing balance but rather affecting the opening balances for April 15. we fixed this, by selecting a maintain history option. However, our opening balance for April 15, is not in agreement with the closing balance for Mar 15, due to the adjustments which have been picked in the opening balance due to this setting.

    Is there a way the opening balance for April 15 can be corrected to match off with Closing for Mar 15?

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