Recurring Journal Type

Used, for example, to monthly assign estimated fixed costs such as depreciation costs and fixed asset tax, of which the actual amounts are usually determined semi-annually or annually, to the departments. In the last month of the financial period, the journal transactions for the estimated monthly costs are reversed and the actual monthly costs are assigned pro rata to the departments.

Used to create simple recurring cost invoices.

For example, you can use this type to pay fixed and periodical amounts of long term contracts such as the office rent, insurances, and lease payments. Usually, the head office makes the payments and the related costs are periodically transferred to each department or branch.

Used to create recurring sales invoices.

For example, you can use this type for the self-billing of subsidiary costs such as various types of service costs. Usually, the head office pays the costs for the whole organization. The subsidiary companies are billed monthly and at a fixed rate. Recurring journal transactions facilitate the billing of these regular payments.