Reversing a Guarantee Received
Purpose
Once the guarantee in question has expired (the due date having passed), the posting can be reversed. To do this, you need only select the required guarantee: the system makes the postings automatically.
Process Flow
The above example results in the following postings:
(1) Guarantee received is posted.
(2) The system makes the offsetting entry.
(3) The system posts the guarantee amount to the debit side of the vendor account and the special G/L account.
(4) The offsetting entry is made to the clearing account.