REVERSING TRANSACTIONS IN SAP B1

If you need to reverse a transaction that had been posted to the general ledger using the Journal Entry window or the Journal Voucher window, SAP Business One provides you with three options:

Go to Main Menu→ Financials→ Journal Entry and create a correcting journal entry.
Run the Transaction Journal Report and open the relevant journal entry, then click Cancel.
Run the Transaction Journal Report and open the relevant journal entry, then check the Reverse box and click Update.

Automatic reversal of manual journal entries is usually set up to occur on the first day of the following month. For a list of manual journal entries scheduled for reversal, go to Main Menu→ Financials→ Reverse Transactions. Note that this option is used primarily during month- and yearend

Closings.

EDITING G/L ACCOUNTS

In the normal course of business, you may have to adjust the chart of accounts from time to time. Using the Edit Chart of Accounts window, you can make changes to the chart of accounts, create new accounts, rearrange groupings, and change and edit existing accounts.

To display the Edit Chart of Accounts window, go to Main Menu→ Financials→ Edit Chart of Accounts, or Administration→ Setup→ Financials→ Edit Chart of Accounts.

Creating codes for a set of newly created accounts is a common task when adding new accounts. The account code generator is a tool that enables you to assign codes to newly created account segments at the click of a button. In addition, you can insert a new G/L account in a number of different account segments (for example, departments) simultaneously. To access the account code generator, select Financials→ Account Code Generator.

EDITING 1099s (United States)

Vendors that are assigned a 1099 form within business partner master data will have A/P invoices and credit memos that accumulate 1099 amounts for year-end reporting to federal authorities. If a document is incorrectly posted with the wrong 1099 amount, form, or box, you can use the 1099 editing function to modify the data. To access 1099 editing, go to Main Menu→ Financials→ 1099 Editing.

REVIEWING CHANGES TO DATA: AUDIT TRAIL

When a change is made to a document, master data record, or setup element, an audit trail is created. To view these changes, select Tools→ Change Log from the SAP Business One menu bar to display a Change Log window that lists changes, including user, date, and time, that have been made to that particular document or master data record. You can then click on an entry to see the change that was made. If there are multiple changes, hold down Ctrl and click on two or more lines, then click on Show Differences in the lower right of the Change Log window to see what has changed between iterations of the document.

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