Reversing journal entries in Sage Intacct

Sage Intacct makes correcting financial data entry errors simple and secure by allowing authorized users to easily reverse journal entries with a few clicks, preserving both the original and reversal entries in the general ledger for a clear audit trail and streamlined reconciliation.

Everyone makes mistakes—especially when the pressure is on during month-end, quarter-end, or year-end close. Those handling financial records know that these deadlines are prime times for accidental data entry errors. Whether it’s posting journal entries with numbers reversed or data entered into the wrong fields, these mistakes are part of the accounting process.

The good news? Sage Intacct is built with real users in mind. When an error happens, you don’t need to manually re-enter a correcting entry. Instead, Sage Intacct gives you the ability to reverse a journal entry with just a few clicks, saving time and reducing frustration.

Both the original and the reversal entries are preserved in the general ledger transaction history, giving you a clear audit trail. You also have the option to specify the reversal date, making reconciliation and reporting more straightforward.

What about security?

If you’re concerned about unauthorized reversals, rest assured: Sage Intacct follows your organization’s security settings and journal approval workflows. Only users with the proper permissions can reverse journal entries, and you can define who is authorized to approve and post these reversals. This ensures your internal controls remain intact.

How to reverse a posted journal entry in Sage Intacct

Step 1:

Navigate to the General Ledger module in Sage Intacct.

Step 2:

Open “General Journal – Journal Entries.”

Step 3:

Open the “Transaction” tab and go to the Entries section.

Step 4:

In the Entries section, select the journal entry you want to reverse.

Step 5:

On the far right of the screen, click the “Reverse” button.

Step 6:

The “Reverse GL Entry” window appears.

Next to Reverse Date, enter the date you want the reversal to be posted (typically today’s date).

Next to Description, add a comment such as “Reverse Journal 238” to clearly indicate the reason for reversal.

Step 7:

Click “Reverse.”

That’s it—the system will automatically post the reversing entry, making corrections quick and efficient.