An apparatus for reversing a sheet, such as a banknote, from a front face to a rear face. In the reversing apparatus a first end of a common path communicates with an exit of a first conveyance path, a second end of common path communicates with an exit of a second conveyance path, and the first end of common path communicates with a merging path. Since the merging path is immediately after the common path, no delay is caused in the timing of feeding a banknote into the next processing step, improving reversing process performance. A first reversing roller rotates based on the on or off condition of a first electromagnetic clutch and a second reversing roller rotates based on on or off condition of a second electromagnetic clutch. A banknote can be quickly and surely conveyed in the common path.