G/L Recurring Entries Screen
Open General Ledger > G/L Setup > Recurring Entries.
Select this option to reverse the recurring journal in the next fiscal period.
Current debit and credit appear below the Details table, along with the amount by which the entry is out of balance (if it is).
If you are entering a new recurring entry code, enter a description of up to 60 characters for the code.
Enter a description of up to 60 characters for the type of journal entry you are creating—for example, a monthly rent payment, an annual insurance payment, or a twice-yearly bond interest payment.
Select an entry mode for entering details:
- Normal. Enter all information for all details, without copying any information.
- Quick. After entering the first detail line, copyReference and Description information to all subsequent detail lines you enter.
Specify whether to use the current rate or recurring entry rate.
If the recurring entry expires on a specific date (for example, the day that a lease expires), select Specific Date, and then specify the date.
If the recurring entry does not expire on a specific date, select No Expiration Date.
Note: If the run date for the recurring entries batch is later than the expiration date you specify, the recurring entry will not be included in the batch.
Select this option to deactivate the recurring entry.
This field displays the date that the record was last updated.
This is the last date on which a batch of invoices was created for the recurring entry code.
This field displays the amount by which the entry is out of balance (if it is).
Each recurring journal entry is identified by a unique recurring entry code.
To create a new recurring entry
code, click the New 
button, and then enter a code of up to 15 characters.
Example: If you are creating a recurring journal entry for monthly depreciation of capital equipment, you might name the code ASSETDEPRECIAT.
Specify a schedule code for the recurring entry.
To view existing schedule codes, or to create a new one, click the Zoom 
button to
open the Schedules screen.
Specify the source code to use for the entry. This source code is used as the default for all detail lines in the entry, but you can enter a different source code for a detail line if necessary.
If you use different source codes for individual detail lines, the separate details in an entry can appear in different source journals.
The start date is the first date for the recurring entry batch.
When you use the G/L Create Recurring Entries Batch screen to create an entry batch, General Ledger checks the start date to determine if the recurring entry should be included in the batch. If the run date of the recurring entry batch is earlier than the start date specified, the recurring entry is not included in the batch.
Specify the account to which the detail will be posted.
- Before you can enter and post a transaction, the status of the account to which it is posted must be set to Active on the G/L Accounts screen.
- You cannot select an account for which the Post To Account field has been set to Prohibited.
This field displays a description of the account.
Add an optional comment to identify or explain the detail.
Comments are printed on the Batch Listing and Posting Journals, but they do not appear on any other reports.
In a journal entry transaction, you can choose to post a transaction to a different fiscal period than what was entered as the transaction date. For example, you could enter June dates in the transaction detail lines, but post the transaction in July.
In a recurring entry, the scheduled run date determines the fiscal period. For example, suppose a recurring entry starts at 06/01/2013 and does not expire. The detail line dates are for 05/31/2013. When the recurring entry is run for 06/01/2013, the fiscal period will be June 07, and when it is run for 07/01/07, the fiscal period will be July 07, and so on.
You can enter a description of up to 60 characters with each detail line. The description is listed with the detail on batch listings, posting journals, and source journals (if the detail has not been consolidated).
The Optional Fields option and the Optional Fields column in the Detail table indicate whether any optional fields are assigned to a selected entry detail.
If you assigned optional transaction fields to the account used in an entry detail, the Optional Fields option is selected automatically.
To view or change the optional transaction
fields assigned to a selected detail, select the detail line, and then click the Optional Fields zoom button or press Shift+F9.
If you delete all the optional fields for a detail, the Optional Fields option or field is cleared for the detail.
For more information, see About Optional Fields in General Ledger.
If you use quantities with the specified account, you can enter one quantity with the detail (for example, to indicate the number of items sold), if this feature is available to you.
Before you can enter quantities for an account, you must select the Maintain Quantities option in two separate places:
- On the Account tab of the G/L Options screen to turn on quantities for the whole ledger.
- On the Detail tab of the G/L Accounts screen to turn on quantities for the account.
Enter an optional detail reference of up to 60 characters. The reference can be anything you want to keep with the detail, such as a check number or invoice number.
The reference is listed with the detail on batch listings, posting journals, and the G/L Transactions Listing.
If you do not consolidate the transaction, detail references are also listed on source journals. If you print source journals by reference, you can use the same reference for all details in an entry so all details from the entry are grouped together.
Specify a source type for the detail. You can enter a different source ledger and type for each detail line if necessary. If you use different source types for individual detail lines, the separate details in an entry can appear in different source journals.
By default, the detail line source ledger and type is the same one that you selected for the entry.
Specify the source currency of the debit or credit amount you are entering.
If you enter the code for the functional (home) currency, General Ledger enters a rate of 1.000 for the detail.
Note: You use the G/L Accounts screen to specify which currencies can be posted to the account.
Select one of the following options:
- Recurring Entry Rate.Use the same exchange rate (from the recurring entry record) each time you produce a batch for this recurring entry.
- Current Rate.Use the exchange rate in effect in Common Services when you create a batch for the recurring entry.
This field displays the functional-currency-equivalent amount of the entry in the Source Debit/Credit field, or the amount of the detail if it is entered in the functional currency.
Enter the amount with the number of decimal places used by the currency.
If you are entering a detail in a currency other than the functional currency, the program converts the source amount to its functional-currency-equivalent amount, then displays the result in the functional field.
If you change the functional-currency amount calculated by the program, the program will adjust the rate to reflect the change.
This is the rate at which the amount in the source currency will be converted to the functional currency.
You can change the rate for any detail, but the journal entry must balance in the functional currency before you can post it.
A list of rates appears when the program cannot find a rate that matches the method defined for selecting rates for the currency. You can choose a rate, or enter one directly.
The exchange rate will be calculated as of the date in this field.
Specify the rate type, which specifies the rate table used to convert the source currency to functional currency (for example, spot rate, contract rate, or average rate).
The default rate type is displayed, but you can enter a different rate type and a different exchange rate.
This field appears when you select Current Rate as the exchange rate.
When you process a recurring entry using the current rate from Common Services, the debits and credits that balanced in the functional currency in the recurring entry record may no longer balance. In this situation, the program debits or credits the rounding account to balance the debits and credits in the journal entry.
Enter the account you wish to use for recording rounding differences that may arise when you create a recurring entry batch.
Enter the amount of the credit.
For multicurrency accounts, enter detail amounts in the source currency. The program displays the functional-currency-equivalent amount in the Functional Credit field. You can edit the functional-currency amount, if necessary, but you can post the entry only when the debit and credit amounts balance in the functional currency.
- To return to the Debit field, you can press Shift+Tab.
- If you enter multicurrency transactions frequently, move the functional currency columns to place them beside the source currency.
Enter the amount of the debit.
To move to the Credit field to enter a credit, press the Tab key without making an entry in the Debit field.
For multicurrency accounts, enter detail amounts in the source currency. The program displays the functional-currency-equivalent amount in the Functional Debit field. You can edit the functional-currency amount, if necessary, but you can post the entry only when the debit and credit amounts balance in the functional currency.
Tip: If you enter multicurrency transactions frequently, move the functional currency columns to place them beside the source currency.
Overview
Use the G/L Recurring Entries screen to set up journal entries for transactions that recur on a periodic basis.
On this screen, you can:
- Add, edit, and delete recurring journal entries.
- Enter transaction details for an entry.
- Specify an existing schedule or create a new one to specify when recurring entries are processed.
- View current credit and debit totals for your entry, along with the amount (if any) by which the entry is out of balance.
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