Can we delete a GL entry

[razorjetin]

Can we delete a GL entry wrongly posted.

Please Help

Regards

[phil]

No - you must reverse it with another entry.
In single user software it is common to allow deletion of GL entries. However, this is big NO NO in multi-user systems.

[Rock*Star]

I'm not an accountant, but I think in the USA, that GAAP, Generally Accepted Accounting Principles, wants audit trail on everything, thus the reversing entry is a good idea. Keeps employees from doing things they shouldn't as well.

[razorjetin]

Thanks for the guidance.