In order to cancel a journal entry in SAP Business One the transaction must be a manual journal entry of type JE (displayed in the Origin field of the Journal Entry window).
1) From the SAP Business One Main Menu, choose: Financials > Journal Entry.
2) Display the journal entry you want to cancel.
3) From the menu bar, choose: Data > Cancel. The following message appears: Create reversal for this transaction?
4) To continue, choose Yes.
Note: If the selected journal entry has been reconciled, a notification appears and you can decide whether to continue or not. The Journal Entry window displays the reversed transaction. The dates of the new transaction are the same as in the original transaction. If required, you can change the dates.
Note: The reversed transaction format is determined by the selection made in the Company Details. If Use Negative Amount for Reverse Transaction is selected, the amounts in the reversed transaction appear on the same sides as in the original transaction, but with a minus sign. If the option is not selected, the same amounts appear on opposite sides.
5) Choose Add.
The reversed transaction is added to the database. SAP Business One automatically adds the text (Reversal) – original trans. no. to the transaction details for reporting purposes.