1. In Journal Entry, create a new Batch.
  2. Enter a description for the batch and click OK.
  3. Enter the journal information, but for each line that is to be reversed:

    Note:  The period entered must be in the future of the posting date entered
    • In Accounting for Nonprofits:
      1. Enter a year in the Reverse in Year column
      2. Enter a period under the Reverse in Period column
         
    • In The Financial Edge:
      Enter the reversing date in the Reverse On column
       
  4. Validate or post the batch.
Example:  A large invoice was not received at the end of January, but can be estimated. Make a journal entry to accrue the invoice at the end of January, debiting the expense and crediting a payable.  By entering in the Reverse in Year and Reverse in Period columns on the two lines of the journal entry (selecting February of the same year), additional lines will be created upon validation that will reverse the journal entry in February.  

The result is that the Financial Statements at the end of January will reflect the estimated expense.  The February Financial Statements will not--the invoice can then be entered when it is received in February without fear of duplicating the expense.