Creating recurring journal entries

Recurring journal entries recur based on a defined schedule. For example, you pay your insurance bill on one annual payment, but want the insurance expense to occur monthly. Use a recurring journal entry to expense the amount on a monthly basis even though the payment occurred once.

This procedure requires a contract or a purchase order. See the Contract Management User Guide or Purchasing User Guide.

Select Manage Invoices.
Open an invoice record.
On the Distributions tab, click Create.
Click the Recurring Entry tab.
Specify this information:

Recurring

You can define Normal or Inter Entity recurring journal entries. The default value is Normal.

Description

Provide a description.

Recurring Global Ledger Event

Specify the primary system to use.

Reference

Specify a reference that is associated with the transaction. Reference is a user-defined field that is used to track transactions. For example, you can provide a purchase order number for audit purposes.
Select the Beginning Year, Beginning Period, and End Year, End Period to define the date range and periods in which the recurring journal entry will occur.
Specify this information:

Posting Day

Specify the day to post the transactions to the general ledger. This number is added to the preceding period's ending date to determine the posting date. If this field is blank, then the processed period ending date is used.

Transaction Day

Specify the transaction day.

To Finance Structure

Select a finance structure

Recurring Transaction Amount

Specify the recurring transaction amount.

Recurring Units Amount

Specify the recurring unit amount.
Click Save.