Yes, that's it. Vice-versa means "the other way around", and so your example sentence is correct.
This way, you are able to transfer from VHS tapes to DVDs and vice versa. (You are also able to transfer from DVD to VHS)
Effectively, U.S. armed forces can operate out of Indian bases, and vice versa, on a simple basis. (Indian armed forces can also operate out of US bases)
There are times when I’m really happy and I write something really sad, and vice versa. (There are also times when I'm really sad and I write something really happy)
Note that "vice versa" doesn't have to mean the exact opposite. If used cleverly it can imply a mixed-up opposite, as in this quote from Tom Stoppard's play Rosencrantz and Guildenstern are Dead:
Guildenstern (speaking to The Player): ... Well then — one of the Greeks, perhaps? You’re familiar with the tragedies of antiquity, are you? The great homicidal classics? ... Maidens aspiring to godheads ——
Rosencrantz: And vice versa ——
The two characters are asking The Player (the leader of a troupe of actors) if he knows the classical plays, while at the same time making a clever joke about the basic stories of these plays. "Maidens aspiring to godheads" means (roughly) young women chasing after gods. In this case vice versa would be
gods aspiring to maidenheads
which means gods chasing after young women's virginity, as frequently happened in those stories.
For examples, see the stories of Zeus (ruler of the Greek gods) and Selene, Zeus and Niobe, Zeus and Calliope, and innumerable others, as well as at least 20 mortal women including Alcmene, mother of the famous Herakles (Hercules in Roman myth).