Recurring Journals - Update allows you to create a new recurring journal or edit an existing recurring journal.
This Help page contains the following sections:
Select the Journal Code and enter a Description. You can then select to Distribute By Percent, if the recurring journal is Active, and if you want to Send Entry to Bank Account Management.
The Distribute By Percent option allows you to enter debits and credits as a percentage rather than an amount. One line must be 100% (Debit or Credit) and the other lines must total to 100%. When the recurring journal is transferred the 100% line is referenced for the period you are posting to. The period total for that account is used as a basis and distributed to the accounts according to the percentages specified on the recurring journal.
For example, let's say your organization has multiple departments, and each department has its own office supply expense account. You may want to distribute your total office supply cost between each department based on a percentage. To do this, you would set up an office supply clearing account, and charge all office supply expenses to the clearing account rather than each department’s expense account. You would then transfer the recurring journal every month, which would read the clearing account specified with 100% to get the dollar amounts. That clearing account is credited for the total amount of activity in the period specified when transferring the recurring journal, and each department’s office supply expense account is debited based on the percentages entered. The amount that is distributed from the clearing account comes from the activity in the period selected when transferring recurring journals. It does not come from the balance of the clearing account. If the period selected has no activity, no amounts are transferred, even if the clearing account has a balance.
In addition to these options there are three tabs: Details, Attachments, and Note.
The Details tab is where you put the journal entry detail. Enter in your level information according to your account structure. Enter the Account # and a Description for the line. You can also select a Project.
Note: Click the icon or press "s" in any field with the Search icon to display a Search window. Use the filter at the top to narrow down your selection. In the Account Search window you can also specify the Account Type in a drop-down list. You can then double-click the item you want to select or click the item and click the Select button. Click the Close link to return to the Update page without making a selection.
Enter the Debit or Credit amount (or percentage if distributing by percent). After entering all information for the second detail line you can click the Add New icon to add another detail line if desired. As many detail lines as needed can be added in this fashion. You can also enter a number between 1-99 on the right and click the Add New Lines icon to add multiple lines at once (e.g., Add 10 New Lines).
The following reviews Debits and Credits according to double entry accounting standards. The system applies the correct sign based on which column the amount is entered.
Assets or Expenses (normally debit balance accounts)
Account Increase = Debit (+)
Account Decrease = Credit (-)
Liabilities, Capital, or Income (normally credit balance accounts)
Account Increase = Credit (-)
Account Decrease = Debit (+)
The Attachments tab allows you to attach files accessible from your device or to scan image files using the Scanner.Client.exe program. See the Attachments Help Page for detailed information regarding the attachments feature.
Enter a note in the field provided if you wish.
When finished click the Apply button to save changes to your recurring journal and start creating a new one, the Update button to save changes to your recurring journal and return to the Recurring Journals page, the Reset link to undo all changes since the last time the page was updated, or the Cancel link to return to the Recurring Journals page without saving your changes.
Debits and Credits must balance per fund. If they do not match you receive an error when attempting to Update or Apply.
Compiled on 2/12/2019 11:04:11 AM