Record a Recurring Journal Entry
You may have a particular Journal Entry that occurs often enough that you'd like to be able to enter the data once and be able to call upon it so you don't have to perform the same data entry repeatedly. You can set up a template to streamline this process.
1. Create a new Adjusting Journal Entry
- Follow the initial steps for How to Record an Adjusting Journal Entry. When you get to the point where you are choosing the Type, you will select Recurring.
- When you are finished entering your line items, click OK to save. This AJE will now be saved as a template for future use.
2. Generate the Recurring Journal Entry
- Highlight the Recurring Entry template that you just created. Note that Type = R and Post Date = 00/00/00, this denotes that it is a template for a Recurring Entry.
- Go to the Action Menu and select Recurring Entry.
After you select Recurring Entry from the Action Menu you will be prompted to Enter a Post To Date.
2.1. Enter a Post To Date
The Post To Date will be the date the Recurring Entry will be posted "as of" to the General Ledger. In this example, the last day of August is entered. Subsequent copies of this Entry will Post To the General Ledger on the last day of each month. Similarly, if August 10th is entered as the Post To Date, each subsequent copy will be dated the 10th day of each month.
Click OK to proceed and you will be prompted to Enter number of copies to create.
2.2. Enter number of copies to create.
Here you can enter the number of times that you want this Journal Entry to recur. In this example, there will be 12 Recurring Entries created with a Post To Date as of the last day of each month.
Click OK to proceed. Now you can see the Recurring Entries created in the Adjusting Journal Entries list view.
2.3. Create selected journal entries?
3. The Recurring Journal Entries have been created.
Here you can see: The original Recurring Entry template (R) in addition to the the 12 Recurring Entries (A) and their respective Post Dates.
