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Process:
This job aid will take you through the process of creating a reversal JV transaction using future transaction triggering (FDT). This functionality only exists on JV transactions and will only create one reversal transaction.
Navigate to Global Search Bar and enter JV1STND.
Select Standard Journal Voucher.
2. Create JV1STND, JVC or other JV Transaction by referring to appropriate Job aids for assistance if needed.
Select the Header Tab.
Expand General Information sub section and enter the desired reversal date in the Reversal Date field.
Click Validate Button.
Click Submit Button.
3. The JV will be populated in the FTT table with a Ready status after being finalized. The reversal date entered above will be used as the start date when the transaction trigger occurs.
4. Navigate to Financial Transaction page by entering JV1STND in the Global search.
Enter Transaction ID in the Transaction ID field.
Click the Search button.
JV Transaction will populate in the grid below the Search sub section.
Click the Transaction ID hyperlink to open the transaction.
5. On the Standard Journal Voucher page select the Header tab.
Expand the 3 dot menu to the right of the Close button.
Select Future Transaction Triggering from the Other Actions menu.
6. On the Future Transaction Triggering page enter the Transaction ID and click the Search button.
7. Once the trigger has occurred the FTT screen will be updated from Ready to Successful and a hyperlink will take you the created JV reversal transaction.
8. The generated reversal JV will have it's own unique Transaction ID and will be in draft.
Select the Accounting tab and review the Accounting Lines. The Debits and the Credits of original JV will be switched on the reversal JV.
Attach any needed documentation.
Validate and Submit.
Original JV Accounting Lines.
Reversal JV Accounting Lines.
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