New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 2: Reverse a Customer and Vendor Ledger Entry with a Realized Gain or Loss Entry

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2023 Wave 2.

The twenty-eighth of the new functionality in the Application section is Reverse a customer and vendor ledger entry with a realized gain or loss entry.

From time to time you may need to recover from mistakes, so Microsoft have improved the features for reversing transactions to save you time both when you enter data and when you validate manual postings.

Enabled for: Users, automatically
Public Preview: –
General Availability: Oct 2023

Feature Details

You can use the Reverse transaction action to reverse payments that were applied to entries that originated in foreign currencies and were adjusted using the Exchange Rate Adjustment batch job. The feature works for both purchases and sales.

The following is a simple scenario that illustrates how it works:

1. Post a sales invoice for a customer using a foreign currency.
2. Adjust the exchange rate for that currency.
3. Post a payment applied to the invoice.
4. Unapply and reverse the payment transaction, for example, from the Customer Ledger Entries page.

With this one-step (actually two because you must always unapply entries before you can reverse them), you can easily undo mistakes that also involve currency adjustments.

My Opinion

This looks like it will be useful for correctly reversing multicurrency entries for sales and purchasing. This is always a tricky area so it is nice to see it being enhanced.