Currently, there is no restriction to reverse historic postings which go back to a period, where the original postings period is not available to select, when making the reversal.
i.e. Bill posted on 01/01/2019, period 201901.
Current available periods in Transaction Periods Screen 202201 – 202312
In this instance, please do not reverse these postings as you will find that your Profit & Loss nominals will not clear down to zero at year-end. We are putting restrictions in place to stop the reversal of postings where the period to reverse has passed. This article will be updated in due course once this system change has been made available.
Reversing a posting that has a transaction period that isn’t displayed in your Nominal Ledger – Transaction Periods screen.
Please post a negative entry. i.e. Original posting is a CDR (Client Payment). The opposite posting to ‘’Reverse’’ would be a CCR (Client Receipt).
Reversing a posting that has a transaction period which is displayed in your Nominal Ledger – Transaction Periods screen.
If you have to, and it's not viable to post in your current financial year, Last financial year postings, can be reversed. If you select the date and period to match that of the original posting. Once complete, please perform the steps below.
From the DPS Home Screen, select Tools.
Select Rebuild Nominal Balances.
Tick Rebuild Last Year Retained Profit.
Select Rebuild Balances.
This will journal over any residual balances from P&L nominals to your retained profit nominal.
Note: If you reverse items in the previous year, this will change your month/year-end figures, which should be notified to your accountants.
There is no need to perform the Rebuild Last Year Retained Profit exercise on reversals performed in your current year, instead, just click Rebuild Balances.
The guides below should only be actioned if the original posting was posted with a period that is still available to you in the Nominal Ledger - Transaction Periods screen. Posting and opposite posting to reverse is fine.
Ledger Transactions posted in DPS FD, in some instances, have the ability to be Reversed. i.e. Transaction Type - Client Payment (CDR).
Reverse a client matter posting
From the home screen, click Client Postings then click Ledger Card.
Within Matter Ref, enter the matter number then click Search.
Locate then double-click the item you need to reverse.
Click Edit transaction.
Amend the date and time then click Reverse.
Reverse a supplier posting
From the home screen, click Purchase Ledger then click Supplier Enquiry.
Within Supplier Account, enter the supplier reference then click Search
Locate then double-click the item you need to reverse.
Click Edit transaction.
Amend the date and time then click Reverse.
Reverse a firm posting
From the home screen, click Nominal Ledger then click Nominal Accounts.
>Within Nominal Account, enter the nominal reference then click Search.
>Locate then double-click the item you need to reverse.
Click Edit transaction.
Amend the date and time then click Reverse.
Reversing a posting where Edit Transaction - Reverse is not allowed
FD restricts certain transaction types from being reversed, and you would receive a warning, following pressing the Edit Transaction button. i.e. NTO.
In cases such as this, the workaround would be to post an opposite posting. i.e OTN. Please note - be careful to select the same criteria which were used in the original posting i.e: For OTN - Was Tick for Bills selected? If so then it should also be selected on the reversal posting.
Reversing a reversal
It's not possible to Reverse a reversal in FD, instead, a manual posting to contra needs to take place. Let's say you have a Client Payment (CDR), which was subsequently reversed. The reversal posting cannot be undone. Instead, you would post another CDR to replace the original.