- Knowledge Base
- Accounting
- Journal Entry
How do I reverse a posted Journal Entry?
To reverse a posted journal entry, you will need to debit and credit the opposite of what was originally recorded.
Using the below entry as an example, to reverse this you would record a new journal entry via Accounting > Journal Entry > New Journal Entry as follows:
- Credit (-) -5.00 to Citi Bank Account
- Debit (+) 5.00 to Retained Earnings Account