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Thread: Journal Reversal (Newbie Question)

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    Journal Reversal (Newbie Question)

    Good Day

    Sorry I hope this is not a super silly question (I am not a professional bookkeeper)

    I needed to reverse a journal entry because the amount was processed with VAT.

    I used the exact same reference (ELEC07/21) and under description used "Reversal"

    I now need to process the exact same charge without VAT.

    Can I use the same reference or do I need a new reference?

    eg: ELEC07/21 (electricity July 2021), as the charge is for electricity usage during the July month.

    Thanks in advance

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    Site Caretaker Dave A's Avatar
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    What accounting software are you using?

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    Hi Dave

    Pastel Xpress V11

    My Concern is more from an accounting/auditing perspective, is it considered acceptable to use the same reference if the program allows it.

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by AMGOTTS View Post
    My Concern is more from an accounting/auditing perspective, is it considered acceptable to use the same reference if the program allows it.
    I tend to add a (2) when it is a second effort at the same thing.

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    Thanks Dave

    That helps a lot.

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