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Share your ideas for improving the new AccountRight. Vote on ideas and discuss them with the MYOB product development team.
I think that there needs to be a facility with MYOB AccountRight for entering automatically reversing journals.
This would be a great feature and one that lots of MYOB users would appreciate as reflected in the forum.
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Agree and have voted
Please, please, please add this function. Please note that Xero has had auto-reversing journals in place for at least 3 years now!!
Even a manual reverse function would be useful (as Quickbooks has) - ie. the option to 'reverse' a journal (a reverse button whereby you add a date that the journal is to be reversed).
I really hope this is added to future updates.
The function to create reversals of transactions is already available, however to avoid accidental reversals, or to prevent an inexperienced user from doing it, the function must be turned on.
To do this go to Setup, then Preferences, then the security tab. here you will see the option that you can tick to allow reversals.
Unless you want this to be always on remember to come back to remove the tick.
I cannot believe that this has been a request for over 3 years and still no action has been taken. (I personally posted in July 2015 and I was not the first to do so.)
Please ask you technical people to speak with an accountant if they don't understand the process of reversing journals. This is a basic accounting function and I am bewildered that an accounting software package does not offer it. Please help us reduce our workload by automating this function.
I assume this means that when you create an accrual journal at month end, it automatically reverses the journal entries on the first of the next month. I agree this is extremely useful, particularly for accruing expenses where supplier invoices have not yet been received.
Has this enhancement been made yet? I would also like to accrue invoives at the end of the month and then reverse the accrual on the first day of the next month.
I think Carol would be referring to an automatic reseversal for example, of an accrual account for expenses when the month rolls over. Would I be able to create an accrual journal for my monthly accruals for expenses relating to the months ahead? Would that journal automatically reverse or would it have to be done mannually? If mannually, how do I do that.
This would be a great time saving function as some of the jounrls are monthly rev ersing journals and take a fair while to post.
I'd love it if you could open a previous journal entry, select a button called 'reverse' that opens up a new journal entry with the transactions reversed.
Hello Sally @SallyIMH
You can do a reversal of a journal in Account Right.
Firstly go to Setup / Preferences and then the Security Tab. Put a tick on the first option "Transactions CAN'T be changed; they must be Reversed"
Then open the Journal you want to reverse. Right click and select the Reverse option. this creates the reversal and just date it as you want . Record. you can then change the Preference back to normal.
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