It is just like a reminder. When any entries which are make at the end of month it is recorded in advance in reversing voucher. When any mistake arises at the time of making entry then with the help of reversing voucher it can be corrected without deleting the entry.
How to activate the reversing journal?
- Press F11 --> F1
- F1--> activate reversing journal
Go to accounting info. --> create scenario.
How to create scenario?
Name: In name column, scenario column is written.
Include actuals: yes --> It is under the reversing journal.
Exclude: no only and end of list.
Accept it.
E.g. suppose you purchased any fixed assets (furniture) and at the end of every year impose depreciation on fixed asset (furniture) then following entry in reversing journal:
Go to accounting voucher.
For payment: press F5 (when fixed asset is purchased in cash)
Furniture a/c ---Dr.
To cash
For journal: press F7 (when fixed asset is purchased in credit) (any one)
Furniture a/c ---Dr.
To party name (m/s banal furniture)
For reversing journal: press F10
Depreciation a/c ---Dr.
To furniture a/c
Then at end of month make entry:
- Display --> exception report
- exception report -->reversing journal
- reversing journal -->enter on entry which are reversed in other voucher
- enter on entry which are reversed in other voucher --> press F7 --> Accept it.
How to see ?
- Gateway of tally --> balance sheet
- balance sheet --> for detail (alt F1)
- for detail (alt F1)-->for more detail (alt C).