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Revaluation Reversal Journal to be generated later

in General Ledger & Intercompany 2 comments

Summary:

1. Specify Ledger Options - Run AutoReverse after open period is checked

2. Manage Journal Reversal Criteria Set
Category - Revaluation
Reversal period - Next Nonadjusting period
Reversal date - First Day
Automatic Reversal option - Reverse and Post Automatically

Our Business would like to reverse the journals created during the revaluation process later in the next accounting period. To achieve this can we remove the revaluation journal category from the journal reversal criteria set and reverse the journals manually (when required) or should we rather change the 'Automatic Reversal Option' for the journal category from 'Reverse and Post Automatically' to 'Reverse Automatically' (that way Business can manually post the revaluation reversal as and when required). What is best practice and what are the risks associated with the above options?

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