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How to post automatic reversal Journals (Accrual and Prepayment) in MAT Finance

In this guide, we will show you how to post automatic reversal Journals when posting Accrual or Prepayment Journals in MAT Finance.

Related guides: MAT Finance Guide

Access: To carry out this task, you will need the following permission from within the Finance Module of Config > Setup > Roles & Permissions.

Roles & Permissions

Finance > New Entry > Journal

Pathway

When selecting Journal Type Accrual or Prepayment, users should tick the box Add Reversal, to post an automated Reversal Journal alongside the original Journal.

Select the Reversal Period where you would like the Reversal Journal to appear. The Reversal Period dropdown lists all the Periods after the Posting Period for the current Financial Year and next Financial Year.

Note: Add Reversal is unticked by default.

Image #1

On clicking Post, for the Accrual or Prepayment Journal, users will see the following Confirmation message:

Image #2

Click Continue, the success message will list both the main Journal and reversal Journal numbers.

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Updated on February 20, 2024

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