When working with leases, you may find that some core fields of the lease were entered incorrectly, leaving the lease setup inaccurate and requiring a full reversal (e.g., wrong commencement date). Go into the affected Lease Agreement Card you want to completely reverse and navigate to Actions → Actions → Admin → Reverse Activation. This function will reverse the lease back to it's In deliberation state.
In the popup window, select Yes.
When the function finishes, the lease will be moved back to New Leases section.
The system created reversal entries for the lease, and now it's back to it's original state.
Reversal entry posting date
The reversal G/L entries will be posted as a catch-up journal if the original entries' date is in a closed time period. Read about catch-up journals here.
Now you can modify the lease and run monthly postings again.
Allowed posting dates
If you want G/L entries to be posted in their respective periods (e.g., July postings in July, August postings in August), ensure that the periods are unlocked for posting. You can set this in the Allow Posting From and Allow Posting To fields in the General Ledger Setup or User Setup pages. If the periods are locked, the system will post them as a catch-up journal instead.