Reversing a transaction – use of short access
Reversing a transaction in accounting software helps cancel or correct a prior entry while keeping your records accurate and preserving the original audit trail.
Look for the transaction you want to edit or reverse.
- Verify the original transaction: Confirm the amount, date, accounts used, and reason it was entered.
- Determine whether reversal is appropriate: In some cases, editing, voiding, or adjusting may be better than reversing.
- Check the accounting period: Make sure the transaction date is in the correct fiscal year.
- Review linked records: Look for connected invoices, payments, taxes, inventory, or bank entries that could also be affected.
- Document the reason: Record why the transaction is being reversed for audit and internal control purposes.
- Correct mistakes: If an entry was posted to the wrong account, wrong amount, or wrong date.
- Avoid duplicate impacts: If the same invoice, payment, or journal entry was entered twice.
- Handle accruals cleanly: Month-end accruals are often reversed in the next period, so they don’t get counted twice when the real transaction arrives.
- Preserve history: Reversing creates a clear record of what happened instead of removing the original entry, which is important for auditing and reporting.
If you notice that a transaction was recorded by mistake and doesn't need to be in your books at all.
1. Look for the transaction you want to reverse in the transaction search screen.
2. Quick access method: click on the three-dot menu at the end of the transaction and select reverse.
3. Click on the transaction in question to bring up the entry page If you want to make sure it is the right transaction you want to reverse.
4. Click Reverse transaction at the bottom of the page to remove it altogether.
5. A message will pop up asking to confirm you really want to reverse the transaction. If so, click Reverse.
1. Once a transaction has been recorded and you realize it needs to be corrected. It might
2. Click on the transaction you want to reverse to bring up the entry page.
3. Edit the transaction by making the appropriate changes.
4. Note that if changes are only made to the date or the description, the transaction will save with no warning. Once the correction is completed, click Save and
new or Save and close. For any other changes, a message will pop up advising you that the changes will require a reversal of the original transaction and that
a new transaction will be created with your changes.
5. Click Reverse transaction.
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Last updated on June 25, 2026 by FCC AgExpert
