Recurring Journal Entries

Daily > Recurring Journal Entries 

This is a list of journal entry batches to be posted on a schedule. Typically, these are posted at the beginning of a month or the end of a month. Each month, the same journal entry (same G/L accounts and amounts) will be posted upon reset of the new month. To post a similar journal entry or a reversal of a prior journal entry, see Clone.

Creating a recurring journal entry. The menu option is Daily > Recurring Journal Entries. Click New, enter the journal entry information, click the Transactions button to enter the journal entry lines, and click Save.

ID: A unique name for the entry.

Description: An optional description for the entry.

Source: The two-character source assigned to this batch upon post.

Frequency: Determines how often the entry is to be posted.

Next post date: This field displays the next date this entry will be posted. The following post date is calculated based on the frequency and the last date posted. It is only used as a screen reminder; upon the next month's reset, you can confirm the post or bypass it.

Nbr times posted: Displays the number of times this entry has been posted.

Specify number of times to post: This option allows you to specify the number of times to post an entry.

Remove when number of times is reached: This deletes the recurring entry so that no entries in the future will be posted. It does not delete any already posted batches, only the schedule for future entries.

Post to: Determines the default period to post to. Select the Current period to post to the new month upon reset. Select Prior Period to post to the old month upon reset.

Transactions: Defines individual transactions or line items of the entry. This includes debit/credit amount, account number, and comments. See Journal Entry for more details.

Edit: An existing recurring journal entry can be edited by highlighting the journal entry line and selecting Edit. Only one entry can be edited at a time. Checking multiple boxes under To be posted? will not highlight the rows and can only be used to manually post recurring journal entries.

Posting a Recurring Journal Entry

When you reset the accounting period every month, recurring entries will default to post. You can then check or uncheck those you want to post.

Create Batch: This allows you to create a journal entry batch by selecting one or more recurring batches (by checking the batch lines) and clicking Create Batch. You can see this batch/es under Daily > Journal Entry Batches.

To post recurring entries manually, go to Daily > Recurring Journal Entries. Entries will default to post if the next post date is today or in the past. You may click Log anytime to see when the selected journal entry was last posted. Double-click a line once the log is displayed to see the entry detail. To manually post one or more journal entry batches, click on the checkbox/es on the journal entry lines you wish to post, set the accounting period and date, and click Post.