GL Recurring Journals

Define recurring journal formulas for transactions that you repeat every accounting period, such as accruals, and allocations. Your formulas can be simple or complex. Each formula can use fixed amounts and/or account balances, including standard, actual or budget amounts, statistics, and period–to–date or year–to–date balances from the current period, prior period, or same period last year. You can quickly create new recurring formulas by copying and modifying existing formulas. 

You can use recurring journals to create three types of journal entries: 

1.    Skeleton Journal Entries: Skeleton entries affect the same accounts each period, but have different posting amounts. After you generate skeleton journal entries, you can edit the unposted journal batch using the Enter Journals form and enter the journal line amounts. 

Skeleton journal entries are useful with statistical information whenever you want to record journals for actual transactions based on statistical amounts, such as headcount, units sold, inflation rates, or other growth factors. 

For example, if you want to enter headcount for each cost center every period, you can define a skeleton entry with your headcount accounts. After you generate the skeleton entries, enter the actual headcount amounts before posting the batch.

2.    Standard Recurring Journal Entries: Standard recurring journal entries use the same accounts and amounts each period.

3.    Recurring Journal Formula Entries: Formula entries use formulas to calculate journal amounts that vary from period to period. 

Creating Skeleton Journal Entries 

1. Navigate to the Define Recurring Journal Formula window:

    General Ledger: Journals -> Define -> Recurring 

2. Enter or query the batch name and the journal entry name.

3. Choose Lines. 

4. Enter a Line number to set the order of your recurring journal entry lines. 

5. Enter the Account you want General Ledger to update when you generate and post your recurring journals. Do not enter a formula. 

6. Enter the remaining lines and accounts for the recurring journal entry. 

7. Save your work.

Creating Standard Recurring Journal Entries

1. Navigate to the Define Recurring Journal Formula window.

2. Enter or query the batch name and the journal entry name.

3. Choose Lines.

4. Enter a Line number to set the order of your recurring journal entry lines.

5. Enter the Account you want General Ledger to update when you generate and post your recurring journals.

6. For the line Formula, enter a Step number and the fixed Amount to post.

7. Enter the remaining lines with their accounts and posting amounts. 

8. Save your work.

9. Generate and post the batch.

Creating Recurring Journal Formula Entries

1. Navigate to the Define Recurring Journal Formula window.

2. Enter or query the batch name and the journal entry name.

3. Choose Lines.

4. Enter a Line number to set the order of your recurring journal entry lines.

5. Enter the Account you want General Ledger to update when you generate and post your recurring journals.

6. For the line Formula: 

7. To use an account balance in your formula: 

- Choose a Balance Type of Actual or Budget. If you choose budget balances, you must specify the budget to use when you generate the recurring journal batch.

- Choose an Amount Type. Choose PTD to use the period–to–date balance of your account. Choose YTD to use year–to–date balances for income statement accounts.

- Note: You can mix standard and average amount types in the same recurring journal formula.

- Choose a Currency Type of Monetary if the account balance is a currency account, or STAT if it is a statistical account.

- Choose the relative Period balance you want to use in your formula (Current Period, Same Period a Year Ago, or Previous Period). The relative period, combined with the amount type, determines the type of account balance your formula uses. The following table shows the account balance types for each combination of amount type and period.

8. Enter the remaining lines with their accounts and posting amounts. 

9. Save your work. 

10. Generate and post the batch.

- Enter a Step number to specify the order in which you want to process the steps in your formula. Each formula can contain an unlimited number of steps.

- Enter a factor for the formula step. There are two types of factors you can use:

- Enter a fixed Amount.

- Specify an Account to use a balance in the formula calculation.

- Specify the type of calculation you want to perform by entering a mathematical Operator for the formula step.

- Enter the Account you want to include in your formula step.