Recurring Journal Entry Maintenance

Menu Path: General Ledger $Images\bluerarw.gif$ Journals $Images\bluerarw.gif$ Setup $Images\bluerarw.gif$ Recurring Journal Entry Maintenance

Purpose

Set up and maintain recurring journal entries.

Overview

Use Recurring Journal Entry Maintenance to set up recurring journal entries, which saves time for creating and posting common journal entries. If you post a journal entry regularly, you may want to define it as a recurring entry. This allows you to easily generate a journal entry from Recurring Journal Entry Create.

This window resembles Journal Entry, except that a journal entry is not actually made. This program serves only for defining the recurring journal entry.

NOTE You must use Recurring Journal Entry Create to generate the entry.

Creating a Recurring Journal Entry

To define a recurring journal entry:

If your company uses consolidation ledgers, verify the ledger ID for which you want to create a recurring journal entry is entered in the Ledger ID field.
Click the New button in the ribbon.
Enter a unique recurring entry ID in the Recurring Entry ID field.
Select how the amount is calculated for the recurring entry (Fixed or Apportioned). Fixed indicates that the current journal entry amount is to be the amount for the recurring entry every time it is generated. Apportioned indicates that you may enter a different amount for each recurring entry and this amount will be apportioned across the credits and debits.
Select whether the recurring entry is only used for tax adjustments, and whether it is automatically posted.
Specify how frequently the recurring entry is generated in the Frequency and Period fields (once a period, twice a year, etc.).
Enter a comment for the recurring entry in the Comment field.
Enter a description and remark for the recurring entry in the Description and Remark fields.
Select a currency for the recurring entry.
Click the Amounts tab.
Enter a general ledger account at the G/L Account field. The DR Amount or CR Amount field is automatically selected based on the default for the account defined in Account Maintenance; you can, however, override this default.
Enter the debit or credit amount in the DR Amount or CR Amount field.
If the selected account requires a general ledger project number (according to Account Maintenance), you must enter one in the Project # field.
Click Enter. The account and amount are entered in the Credits/Debits grid, and the G/L Account, DR Amount/CR Amount, and Project # fields are cleared so you can enter information for another credit or debit. The totals and difference fields below the grid reflect the entered line.
Repeat steps 11 to 14 for other credits and debits required for the journal entry.
When you finish adding lines, you can click the Totals button in the ribbon to double-check your work using the hash totals feature in G/L Journal Hash Totals.
Click the OK button in the ribbon. The recurring journal entry is created.

Editing a Recurring Journal Entry

To edit a recurring journal entry:

If your company uses consolidation ledgers, verify the ledger ID for which you want to edit a recurring journal entry is entered in the Ledger ID field.
Enter a recurring entry ID in the Recurring Entry ID field.
Click the Update button in the ribbon.
Edit the recurring journal entry.
Click the OK button in the ribbon. The recurring journal entry is updated.

Deleting a Recurring Journal Entry

To delete a recurring journal entry:

If your company uses consolidation ledgers, verify the ledger ID for which you want to delete a recurring journal entry is entered in the Ledger ID field.
Enter a recurring entry ID in the Recurring Entry ID field.
Click the Delete button in the ribbon.
Click the OK button in the ribbon. The recurring journal entry is deleted.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Recurring Journal Entry Maintenance window.
New	Click this button to create a new recurring journal entry.
Update	Click this button to update the selected recurring journal entry.
Delete	Click this button to delete the selected recurring journal entry.
OK	Click this button to accept an action. This button is only available after you click the New, Update, or Delete ribbon button.
Cancel	Click this button to cancel an action. This button is only available after you click the New, Update, or Delete ribbon button.
First	Click this button to display the first recurring journal entry.
Prev	Click this button to display the previous recurring journal entry.
Next	Click this button to display the next recurring journal entry.
Last	Click this button to display the last recurring journal entry.
Totals	Click this button to display G/L Journal Hash Totals, which allows you to double-check your entry by adding account element numbers together.

Fields and Buttons

Field or Button

Description

Recurring Entry ID

Enter a recurring journal entry ID, or click the Lookup button to select a recurring journal entry ID. This can be any character string or numeric sequence to represent the recurring journal entry definition.

Ledger ID

Enter a ledger ID for the recurring journal entry, or click the Lookup button to select a ledger ID.

Note This field is only available if at least one consolidation ledger is set up.

Main Tab Fields and Buttons

Field or Button	Description
Fixed/Apportioned	Select whether the recurring entry uses a fixed or apportioned amount. If you select Fixed, the amount for the journal entry is used every time the recurring entry is generated. If you select Apportioned, you can enter a different amount for each journal entry created for the recurring entry, and the amount is apportioned across the credits and debits.
Tax Only Adjustment	Select this check box to indicate that the journal entry is solely for tax adjustment purposes.
Frequency	Enter the frequency for the recurring entry in the period of time in the Period field.
Period	Click the Lookup button to select a period of time to specify how often the recurring entry is generated (weekly, monthly, yearly, etc.). This works in conjunction with the frequency entered in the Frequency field.
Comment	Enter a brief comment for the recurring entry. This should be some meaningful code to identify the source of the entry.
Description	Enter a description for the recurring entry.
Remark	Enter a remark for the recurring entry.
Currency	Click the Lookup button to select the currency for the recurring journal entry. NOTE At posting time, the transaction will be converted to the currency of the general ledger with the most recent conversion rate.
From	Enter the first date in a range of dates in which the recurring entry takes place, or click the drop-down arrow to select a date.
To	Enter the last date in a range of dates in which the recurring entry takes place, or click the drop-down arrow to select a date.

Amounts Tab Fields and Buttons

Field or Button	Description
G/L Account	Enter a general ledger account number for the account against which a credit or debit amount is being entered, or click one of the Lookup buttons to select a general ledger account number or description.
Template	Click this button to select a general ledger account from the accounts in a journal template after you enter a template ID in the Template ID field.
DR Amount	Enter an amount to apply as a debit for the journal entry.
CR Amount	Enter an amount to apply as a credit for the journal entry.
Enter	Click this button to enter the debit or credit to the journal entry.
Project #	Enter the project number against which the specific detail credit or debit entry being made applies, or click the Lookup button to select a project number. For information on setting up projects, see Project Maintenance. Note This field is mandatory if the account requires a project number, as defined in Account Maintenance. The project number must be a valid project number. If you are authorized to do so, you can dynamically define new project numbers when you enter a journal entry.
Project	Click this button to display Project Maintenance, which allows you to define or edit projects.
Template ID	Enter a journal template ID, or click the Lookup button to select a template ID. After you enter a template ID, you can click Template to select an account from the template. Journal templates can be set up in Journal Entry Template Maintenance.
Cancel	Click this button to clear all fields for the debit or credit you are entering.
Credits/Debits	This grid displays information for all credits and debits for the journal entry. The total amount of all credits must equal the total amount for all debits. Double-click a credit or debit to remove it from the grid, and then edit or delete it.
Total Credits	This field displays the total credits for the journal entry.
Total Debits	This field displays the total debits for the journal entry.
Total Difference	This field displays the difference between total credits and total debits for the journal entry.