We’re now on our ninth installment of this blog series exploring videos that take you through the differences and similarities in work processes between Dynamics GP and Dynamics 365 Business Central. Today, we’re focusing on the experience of correcting and reversing General Journal Entries in Business Central and how it differs from GP. If you missed the first eight posts, you can catch them at the links below:
Stay tuned for the next video in this series that will compare trial balance and aging reports between Dynamics GP and Business Central.
If you need help with your Dynamics GP to Business Central migration, contact TrinSoft today.
Video transcript:
In this video, we’re going to look at creating correcting entries in GP and compare that to the experience of creating reversing entries and correcting dimensions in Business Central.
To begin, let’s go to GP and navigate to the General Journal window. To correct a posted journal entry, I’ll select the Correct button. Here there are two options to select from – to back out the journal entry or back out and create a correcting entry. For our purposes, we’ll select the first option to only back out the journal entry.
Next, I can select the original journal entry year and find or type in the journal entry number I need to reverse. Once I find the journal entry number, I can select OK. Now I can see that the system has pulled in the accounts and amounts and reversed the debits and credits. Now we can go ahead and post the correcting entry.
Now let’s look at how we can reverse that same posted journal entry in Business Central. First, I’ll select the General Ledger Entries window that I have pinned to my dashboard for easy access. Once in the General Ledger Entries window, I can search for the journal entry I want to reverse. Now that I’ve found the journal entry, I will select to reverse the transaction.
You can see it’s defaulted in the journal entry information for me, and I will process the reversal. Once the reverse is complete, you can see it has reversed the amounts posted in the original journal entry.
Finally, let’s say you noticed a journal entry was posted using incorrect dimensions. You could reverse the transaction, or you can use the correct dimension functionality.
To correct a dimension value, again I will search for the journal entry I want to correct. Here you can see that we have posted to the 500 dimension value for this entry. Instead of choosing to reverse the transaction, we’ll select to correct the dimension.
In the new dimension value code, I’ll select the correct dimension value for the journal entry. I could also enter the description as to why the change is being made. Now we will run the change dimension process. Once complete, we can refresh the window and see that the correct dimension value is on the journal entry.
Reversing and correcting dimensions is a quick and simple process in Business Central.
