Reverse Tax Journal – A summary of the activity

This activity allows you to search and select a tax journal for which the details have been posted in the books of accounts. You can reverse a tax journal voucher that is in the “Authorized” status. The system updates the status of the voucher as “Reversed”. The system generates a voucher to reverse the original voucher and the status of the voucher is updated as “Authorized”. Financial postings are made in the respective accounts to nullify the entry that has been posted earlier.

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