Recurring Journal Entries

Accounting>File>General Ledger>Journal Recurring Entries

From this screen all monthly journal recurring entries and adjustments to the journal that have not been added automatically through daily entries may be entered. This would apply to entries such as accumulated estimated depreciation, prepaid insurance, and other such things that are pro-rated. Necessary adjustments must be made to this file each month to keep it up to date. When entering records, a balance of debits and credits should be maintained. These entries stay in the system until deleted and will be posted to the Journal automatically each month at the time of Journal Close. The transaction date for the journal postings will be the last day of the month being closed, regardless of the actual date the posting was done.

Adding a Journal Recurring Entry

Click the Insert button.  The Adding a Journal Recurring Entry screen will appear.

Account Number

Enter an Account Code or press F8 to search.

Sub Account Number

To further distinguish entries, add a Sub Account Code in the space provided.

Description

Any additional information should be included here.

Comments

Any additional information should be included here. Required Field.

Debit

Enter the appropriate debit amount.

Credit

Enter the appropriate credit amount.

Store

Enter the appropriate store number in the space provided.

Operator ID

Enter initials required field

Start Date

Enter the date for this entry to begin. Make sure it is the same as the balancing entry.

Last Edited Date

This field will provide the date this journal entry was last edited.

Each time a record is edited, the transaction date is updated.

Entries can be set for a number of times to post OR a total amount to post. A start date can be entered so that if general ledgers are re-opened past the start date the entry will not be automatically inserted to that month when it is reclosed. Once the entries have begun, the start date and posting amount cannot be changed.

Frequency would be used for entries that need to be made for a set number of times. Enter the amount of each entry to be made, and then click in the frequency selection. Next post the number of times to make the entry (frequency). The Posted count and Last posted date will be automatically updated each time a posting is made. The system will divide the total into equal entries until all the entries have been made.

A certain amount can be specified to be processed each month. Enter the amount of each entry to be made, and then click in the amount radio button. Next post the amount of the total entry. The credit and debit posted to date and Last posted date will be automatically updated each time a posting is made. The system will post the specified amounts until the last posting needed, then the balance will be posted.

Since multiple entries may be entered in a session, the offsetting entries cannot be balanced against each other to verify they are in the same store code and have the same start date. To check entries sort by one of the columns in the browse list, for example Start Date or Description to align offsetting entries. Then verify that the information is correct.

For example, by sorting by start date, it is evident that the highlighted entry and its offsetting entry don’t match and one will need to be edited.