Auto-Reversing Journal Entries
by XFanis
/ version
Requires
Odoo modules
Auto-Reversing Journal Entries
Scheduled auto-reversing for journal entries
Auto Reverse Posted General Journals in Odoo
This module helps to schedule auto reverse for posted journal entries.
Utilizing Auto-Reversing Journal Entries is quite easy to forget to manually reverse out certain entries at the beginning of new account period.
Auto-reversing journal entries are used to avoid errors in reporting in situations where some accrued revenue or expenses from one accounting period should not remain on the books in the next account period.
How it works
After installation of the module, the new tab appears:
In this tab accountant can select whether the system should reverse this entry automatically at the selected date.
Auto-Reversal Date is the date when particular entry will be reversed.
Accountant can specify specific accounting date for reversal entry to be posted.
Also user can select the option "Journal Entry Date", so that reversal entry will be posted using origin journal entry date.
In addition, there is the option to post reversal entry in a different accounting journal.
The system administrator can configure the execution time of the scheduled action or run it manually if needed:
When scheduled action is executed the system reverses entries:
As you know in Odoo v14 the data model for invoices and account moves is the same. So automatic reverse/refund functionality is available in the invoice form too.
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