How to reverse an entry after posting it in SFM

How to Reverse a Nominal Transaction in SFM

Reversing Entries in SFM

Once users confirm an entry in SFM, they cannot modify any of its elements. The only available option is to reverse the entire transaction and re-post it with the correct values. The system supports both simple reversals and a "Reverse and Repost" function for specific types of entries.


Nominal Ledger Reversals

Reversals in the Nominal Ledger can only be performed via the audit trail.

To reverse an entry:
  1. Navigate to Current/Previous Year > Nominal > Audit Trail
  2. Locate the transaction using its System Reference number.
  3. Highlight the entry.
  4. Click the Reverse button.
  5. Choose one of the following options:
    1. Reverse Only: The system posts an adjustment debit or credit to offset the original entry. No further action is taken.
    2. Reverse and Repost (not available for all type of transactions): The system first posts an adjustment debit or credit to reverse the original entry. Then, it opens the posting screen pre-filled with the original data. Users can modify all fields, including Client/Supplier codes, Dates, Values, VAT codes, Nominal account codes, etc...
  6. Once updated, the new entry can be confirmed.

Upon confirmation, the system posts a journal that reverses all entries associated with that system reference. These reversed entries are clearly identified in the audit trail.

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System Behavior on Reversal

  1. Both the original and adjustment entries are marked as fully allocated.
  2. The allocation flag is updated with the letter ‘R’ (for Reversed).
  3. A new system reference is assigned to the reposted transaction.
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Exceptions

The system will not allow a reversal if:
  1. The transaction date falls outside the current posting period.
  2. The transaction date is within a closed VAT period.
  3. The entry has already been reversed.
  4. The entry originated from an external system (e.g., SIMS, SFS, or other third-party systems).


Required Permissions

To perform reversals, users must have the following permissions:
  1. NAUDITNOM: Create permission required for Nominal Ledger reversals.


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