How do I reverse a Closing?

This article highlights how to reverse a transaction that has already been closed and processed. With Commissions this is a simple process. Initiating a reversal will post voided entries to QuickBooks®; this includes checks, deposits, journal entries and payments on account.

Search the transaction to reverse by Closed status in the Quick Search window

Highlight transaction to reverse and select Reverse icon (door with arrow)

You will receive the following prompt;

Select Yes; the transaction status will change from Closed to Open

Next under the Accounting menu > select Update Closings & Reverse

Select Start Process

A notification will be displayed with confirmation that the process has been completed:

Select OK and Close

The reversing (or void) entries are now synced with QuickBooks® and entries displayed as follows:

  • Make Deposits will flag as void and amounts will be zeroed out
  • GENJRNL entries will flag as void and amounts will be zeroed out
  • Checks will flag as Cleared and amounts will be zeroed out
  • Invoices for Payments will flag as Paid and amounts will be zeroed out

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