In the event that mistakes are discovered subsequent to sending a transaction through the system, corrective steps must be taken immediately.

 

You can correct a transaction that was made in error by entering a reversing entry. Should a transaction have multiple detail lines in it, the reversal will apply only to the specific detail line that was reversed, not the whole transaction. Because the system records each inventory transaction for accounting purposes, you cannot delete the record. A reversing entry enters a negative quantity and cost amount back into the item information.

 

The system automatically creates journal entries each time transactions are generated that will affect the general accounting system. However, please note that the general accounting system will not be affected until the journal entries are posted. Please refer to the work instructions to Review and Post Journal Entries.


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