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What is the impact of reversing the revaluations journals of 2022 for the Balance sheet of 2023?

in General Ledger - EBS (MOSC) 1 commentAnswered

Hello,

My client didn't reverse the revaluation journals of the year 2022. This is a process performed manually in the Adjusting period by the client. He ran revaluation in December 2022 and in Adjusting period (which is the next period) he was supposed to reverse these journals. He forgot to take this step and opened the next year 2023 and also he entered transactions all year 2023 and in December 2023 he ran revaluation. What can he do to fix this and get the real balances without being affected from 2022 revaluation?

Regards

EMY

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