What is reversal in SAP FI - Financial Accounting?

SAP Term: reversal

• Component: FI

• Component Name: Financial Accounting

• Description: A reversal of a posting by entering an identical amount to the opposite side of the account, thereby offsetting the original amount.

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• Key Concepts: 
  Reversal is a feature in SAP Financial Accounting (FI) that allows users to reverse a document or transaction that has already been posted. This feature is used to correct errors or to cancel out a transaction that was posted in error. Reversal can be done manually or automatically, depending on the user's preference. 
  
  How to use it: 
  To manually reverse a document or transaction, the user must first select the document or transaction they wish to reverse. Then, they must enter the reversal date and the reason for the reversal. Once this is done, the user can click the “Reverse” button to complete the reversal process. 
  
  To automatically reverse a document or transaction, the user must first set up an automatic reversal rule. This rule will specify which documents or transactions should be reversed and when they should be reversed. Once this rule is set up, the system will automatically reverse any documents or transactions that meet the criteria specified in the rule. 
  
  Tips & Tricks: 
  When manually reversing a document or transaction, it is important to make sure that all of the necessary information is entered correctly. This includes entering the correct reversal date and reason for reversal. If any of this information is incorrect, it could lead to incorrect postings in the system. 
  
  It is also important to make sure that any automatic reversal rules are set up correctly. If an incorrect rule is set up, it could lead to incorrect postings in the system as well. 
  
  Related Information: 
  For more information on reversing documents and transactions in SAP Financial Accounting (FI), please refer to SAP Help documentation at https://help.sap.com/viewer/product/SAP_FI/en-US