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Movement 202 to reverse 201 in the following fiscal year

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We were writing off materials as a year-end inventory reconciliation in December last year. We mistakenly wrote off a material that was supposed to stay in inventory. Otherwise, this causes our plant to order more materials. 

I originally wrote off the inventory with a 201 movement last year. Is it possible to reverse this using a 202 movement for the new fiscal year? Please advise whether this is possible and the proper steps to take. Thank you for your help!


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Active Contributor
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I do not believe there would be an issue as long as entries are blessed by Finance team.