Hi Sairam,
I never done reverse posting but as per my knowledge reverse posting can be done by both HR/FICO.
Because to do reverse posting FICO consultant must open posting period then only posting can be reversed. For you I've googled some information if it's useful just go through it...!
Reversing Posting Documents
Use
If you have successfully posted posting documents and realize that the posted data is incorrect, you can reverse all documents for the posting run in question.
Prerequisites
- You have successfully posted the posting documents for a posting run. The posting run has one of the following statuses:
- Documents transferred
- Documents posted
- It is initially not possible to reverse posting documents if payroll results were processed for which retroactive accounting runs took place and the results of these runs have already been processed in a live posting run. In this case, you must firstly reverse or delete the posting documents from the posting runs with retroactive accounting, and finally reverse the posting documents from the incorrect posting run.
- Accounting has approved the reversal.
- The system should not have used any line items from the documents created in Accounting for clearing.
- It must be possible to post the reversal documents (for example, the relevant CO account assignments should not yet be closed).
See also below links it will help you some part...!
Reversing Posting Documents - Payroll China (PY-CN) - SAP Library
All the best with regards
Mohan