Suggestions:
Ledger Balance and ageing report will not match if a reverse JV is not done.
For example:
1) If a Sales invoice is recorded of Rs.5000.00 and a JV entry is done without reverse then the same amount will be carried forward to the next Finance period. So when we receive the bill amount of Rs.5000.00 in the next Finance period, the additional amount is stacked with the existing amount.
2) If a Purchase is recorded of Rs.6000.00 and a JV entry is done without reverse then the same expense amount will be carried forward to the next Finance period. So when we pay the Purchase bill amount of Rs.6000.00 in the next Finance period, the additional expense amount will be stacked with the existing amount and this will be an erroneous entry.
So these entries which need to be reversed should be reversed, passed and confirmed.