Creating a recurring journal entry

Create recurring transactions for entries that are repeated for multiple records, such as mortgages, leases, or payroll expenses.
  1. Select Processing > Journal > Recurring Journals.
  2. Click Create.
  3. Specify this information:
    Accounting Entity
    Specify the accounting entity for which to create a recurring journal entry.
    System
    RJ is the default system. It cannot be changed.
    Ledger
    Specify the ledger for which to create a recurring journal entry. The ledger must be associated with the accounting entity through one of the reporting bases. The core ledger is the default value.
    Journal Type
    Select the journal type:
    • Normal is the default type. Select this type if all transactions for the journal entry are within the same accounting entity.
    • Select Inter Entity if the transactions cross accounting entities.
    Description
    Specify a description for the journal entry.
    General Ledger Event
    JE (Journal Entry) is the default event. You can select another event.
    Description Default
    Select Journal Header to use the journal description as the default value for the transactions. Select Prior Transaction Line to use the previous transaction line as the default value on transactions that follow the first transaction.
    Reference
    Specify an optional reference for the journal entry.
    Document Number
    Specify an optional document number for the journal entry.
    Currency
    Select a transaction currency.
    Automatic Zero
    Clear this check box if the transaction amounts in the recurring journal entry will never change. Select this check box if the transactions will have variable amounts from period to period.
    Automatic Reverse
    Select this check box if you want all the transactions in the journal entry auto reversed in the next period.
    Beginning Period
    Specify the first calendar period for the recurring journal entry.
    End Period
    Specify the last period for the recurring journal entry.
    Posting Day
    Specify the day of the month that is used as the posting day on all transaction lines.
    Transaction Day
    Specify the day of the month that is used as the transaction day on all transaction lines.
  4. Click Save. The recurring journal control record is created. The Journal field is automatically assigned the next number available for the accounting entity and ledger. The status is Ready and Unreleased.