From the course: SAP Business One: Finance and Banking

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Reverse transactions

Reverse transactions - SAP ERP Tutorial

From the course: SAP Business One: Finance and Banking

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Reverse transactions

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- [Instructor] We've looked at one special kind of entry with a recurring entry. Now I'm going to go close this one off. And I'm going to go look at a different kind. Journal entries, like accruals, will require reversals at the end of the period. SAP Business One will help us out there with another type, the reverse transaction. Now, for demonstration purposes, let's suppose we have a closing date coming up today, and tomorrow will be a new period, and $20,000 of salary has accrued in this period that's going to get paid in the next. So, we're going to go to the journal entry, not the reverse transactions, and start there. And I'm going to add the journal entry for an accrued payroll expense. So I'm going to go down here, and it's 6121, and I'm going to debit $20,000 here. And then underneath that, I'm going to do 2210, which we can't read here, so I'm going to scoot this over a little. Payroll accrual, and that's…

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