Cancellation Rules

Cancellation enables to remove bank or GL entries that have been reversed, i.e. entries canceled by the bank or the GL department through the creation of cancellation entries with the same amount and opposite direction.

Thus, when a cancellation entry has been detected, the system searches for the opposite entry, with the same amount and the specified type. These two entries cancel each other, if potentially defined criteria are met.

You can set cancellation criteria for the bank as well as for the GL department.