Reverse entries

Reverse entries

In accounting, the entries created to reverse the effect of adjusting entries created at the end of previous reporting period. This simplifies recordkeeping.
References in periodicals archive ?
A BNY Mellon Wealth Management Vice President routinely conspired with other bank employees to covertly reverse entries in the Mercer trust accounts in order to hide the bank's incompetence from the trusts' beneficiaries.
Finally, all nodes on the path from the source to the destination broadcast their forward and reverse entries to their neighbours outside the path.
I love the fact that I can reverse entries at the end of the quarter if I need to, or, if a mistake requires an off-cycle check, it's not a big deal with UltiPro," said Loftis.