Significance of AR Reversal Dates

When you choose to reverse an accounting transaction, Orion asks you for two different dates, the GL Period, and the Fiscal Year.

Reversal Date

The Reversal Date is used on the actual reversal record saved in the reversal data file.  The current date is recommended.  This date is used to determine whether or not a Reversal should be included in a report where Reversals are included (Payment Application Analysis, Timekeeper Productivity Report, Payments by Working Attorney Report, etc.).  When Reversals are included in a report, any Reversal will be included where the Reversal date is within the specified report date range but the date of the original transaction is outside the specified report date range.  If both the Reversal date and the original transaction date are within the report date range, the Reversal is thrown out and not factored into the report.

GL Transaction Date

The value you enter in the GL Transaction Date field will be used on the General Ledger Transactions that are created.  If you are sensitive about the dates in your General Ledger, make sure you enter a date that goes with the General Ledger Period and Fiscal Year you will specify.

GL Period and Fiscal Year

The GL Period and Fiscal year will be used on the GL transactions created by the Reversal.  The Current Period and Fiscal Year is recommended.  Even if you get this wrong, you can change the Period and Fiscal Year on the General Ledger transactions before you post them.