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Mar 25, 2015 at 07:33 PM

Cancelling or Reversing Period End Closing



The Period End Closing process creates 1 Journal Entry on the last date of the period for each Revenue and Expenditure ledger to transfer its balance to Period Closing Account, and then another Journal Entry for each ledger to transfer its balance from Period Closing Account to Retained Earnings Account on the 1st day of the next month.

If we want to reverse or cancel the Period End Closing, what are the options? Manually reversing all the Journal Entries is a huge task!