Auto reversal in oracle means , We will create some rules and setups for some GL journal source which will automatically reverses the GL journals for that Source as per the Auto Reversal Setup. here below we will completely describe the Auto reversal in oracle gl r12.
Reversing entries are made on the first day of an accounting period in order to remove certain adjusting entries made in the previous accounting period. Reversing entries are used in order to avoid the double counting of revenues or expenses.
When you create a journal entry you want to automatically reverse, specify a journal category that has assigned reversal criteria. Your journal will be reversed based on the method, period and date criteria you defined for that journal category.
Responsibility- GL super user
Navigation: Journal> Sources – Create new sources
Navigation: Journal> Categories- Create new Categories
Navigation:Journal–>Auto Reversal
