Reversal Reasons

[Former Member]

Can Anyone tell me the meaning of the following Reversal reversal ? i.e. What is the meaning of following ;

a) Reversal in Current Period

b) Reversal in Closed Period

c) Actual Reversal in Current Period

d) Actual Reversal in Closed Period

e) Accrual / deferral posing

Regards,

SANJU

[Former Member · Accepted solution]

Hai Sanjay,

1. Reversal in closed period

The transaction belong to a period whihc is closed and you are revresing it now.

2. Reversal in current period

Transaction belong to the current period and you re revrsing.

3. Actual Reversal in closed period

The transaction belong to a period whihc is closed and you are revresing it now

4. Actual Reversal in current period

Transaction belong to the current period and you re revrsing

5. Accruals and Deferrals

The transaction is of accrual/Deferral in nature and you are reversing now.

Regards

Madhu I

[Former Member]

Hi

Check this

Thank You,