Converting a Journal Entry to a Draft
This feature allows you to convert an issued journal entry into a draft, enabling you to negate the accounting impact of this entry on the existing accounts.
Steps to convert a Journal Entry to a Draft
- Create a journal entry using the guide to create a new journal entry.
- After saving the journal entry, an option titled “Mark as Draft” will appear on the journal entry screen. Click on it.
- After clicking on the “Mark as Draft” option, the journal entry is saved as a draft and is not issued.
- Based on this procedure, the following happens:
- The code number of the journal entry changes and is prefixed with the name “draft”.
- The accounting effect of the entry on all existing accounts is nullified.
Note: You can re-issue and approve the entry again by clicking on the “Issue” option from the available options within the journal entry display/ view screen.