user2178: One of the basic edits one can make to a video is reversing it such that it plays backwards.
The goal of this community wiki is to show beginning users how to reverse footage with different video editors.
When adding answers, please try to make the guide as easy as possible as this is aimed towards beginning users.

List of software in alphabetical order

After Effects
Premiere Pro
Vegas Movie Studio & Vegas Pro


user1890: Vegas Movie Studio & Vegas Pro
Assuming you have put the desired clip(s) in the timeline.
Right click on the clip and a menu will appear, check 'reverse' and this will reverse the clip. You will get confirmation by a reverse arrow appearing at the leading edge of the clip in the timeline. Note, you will need to do this for both video and audio tracks separately. To undo go back and uncheck it.

user2178: After Effects
There are three steps involved when you want to reverse footage in After Effects.

Import the footage
Go to File -> Import -> File... select your footage and click Open
Create new composition
In the Project Panel drag your footage to the new composition button as shown in the image below:



Reverse the footage
Now in the Composition Panel right click on your footage and go to Time -> Time-Reverse Layer as shown in the image below:


Now your footage is reversed and you only need to export it with the settings you desire by clicking Composition -> Make Movie...

user2178: Premiere Pro

Make a new project
Go to File -> New -> Project. Set the folder and project name and choose the sequence preset that fits your footage with regards to the dimensions, frame rate, frame aspect ratio, etc...
Import your footage
Go to File -> Import, choose your footage and click Open.
Put the footage in the sequence
Drag and drop the footage from the Project Panel to the timeline in the Sequence Panel as shown in the image below:



Reverse the clip
Right click on the footage in the timeline and go to Speed/Duration.... In the window that shows up check the Reverse Speed checkbox and click OK.



Now your footage is reversed and you can export it by going to File -> Export -> Media.

2178: <p>One of the basic edits one can make to a video is reversing it such that it plays backwards.
The goal of this community wiki is to show beginning users how to reverse footage with different video editors.</p>

<p>When adding answers, please try to make the guide as easy as possible as this is aimed towards beginning users.</p>

<hr>

<h2>List of software in alphabetical order</h2>

<ul>
<li><a href="https://video.stackexchange.com/a/5637/2178">After Effects</a></li>
<li><a href="https://video.stackexchange.com/a/5638/2178">Premiere Pro</a></li>
<li><a href="https://video.stackexchange.com/a/5646/1760">Vegas Movie Studio &amp; Vegas Pro</a></li>
</ul>
 1890: <h2>Vegas Movie Studio &amp; Vegas Pro</h2>

<p>Assuming you have put the desired clip(s) in the timeline.</p>

<p>Right click on the clip and a menu will appear, check 'reverse' and this will reverse the clip. You will get confirmation by a reverse arrow appearing at the leading edge of the clip in the timeline. Note, you will need to do this for both video and audio tracks separately. To undo go back and uncheck it.</p>
 2178: <h2>After Effects</h2>

<p>There are three steps involved when you want to reverse footage in After Effects.</p>

<ol>
<li><p>Import the footage<br>
Go to <code>File -&gt; Import -&gt; File...</code> select your footage and click <code>Open</code></p></li>
<li><p>Create new composition<br>
In the <code>Project Panel</code> drag your footage to the new composition button as shown in the image below:</p></li>
</ol>

<p><img src="https://i.stack.imgur.com/su1Q7.png" alt="Drag footage to new composition button"></p>

<ol start="3">
<li>Reverse the footage
Now in the <code>Composition Panel</code> right click on your footage and go to <code>Time -&gt; Time-Reverse Layer</code> as shown in the image below:</li>
</ol>

<p><img src="https://i.stack.imgur.com/cVZVh.png" alt="Time-Reverse Layer"></p>

<p>Now your footage is reversed and you only need to export it with the settings you desire by clicking <code>Composition -&gt; Make Movie...</code></p>
 2178: <h2>Premiere Pro</h2>

<ol>
<li><p>Make a new project<br>
Go to <code>File -&gt; New -&gt; Project</code>. Set the folder and project name and choose the sequence preset that fits your footage with regards to the dimensions, frame rate, frame aspect ratio, etc...</p></li>
<li><p>Import your footage<br>
Go to <code>File -&gt; Import</code>, choose your footage and click <code>Open</code>.</p></li>
<li><p>Put the footage in the sequence
Drag and drop the footage from the <code>Project Panel</code> to the timeline in the <code>Sequence Panel</code> as shown in the image below:</p></li>
</ol>

<p><img src="https://i.stack.imgur.com/07fiQ.png" alt="Drag drop from project to sequence"></p>

<ol start="4">
<li>Reverse the clip
Right click on the footage in the timeline and go to <code>Speed/Duration...</code>. In the window that shows up check the <code>Reverse Speed</code> checkbox and click OK.</li>
</ol>

<p><img src="https://i.stack.imgur.com/DgUxN.png" alt="Right click on footage"></p>

<p><img src="https://i.stack.imgur.com/h3ZUL.png" alt="Reverse speed checkbox"></p>

<p>Now your footage is reversed and you can export it by going to <code>File -&gt; Export -&gt; Media</code>.</p>
