To set up recurring journals

Step 1.  Recurring Journals (tfgld0140m000)

  • To create a new definition, you can:

    • Click New.
    • Select a recurring journal definition and click Copy. You can copy the journal definition including or excluding the individual transactions and instructions.

    The Recurring Journal (tfgld0140m100) session starts.

Step 2.  Recurring Journal (tfgld0140m100)

  1. Enter or change the header data such as the transaction type, the currency, the recurring journal type of the transactions, the rate determiner, and the effective period during which the recurring journal vouchers can be generated.

    If the recurring journal type is Journal Voucher, the rate determiner must be Manually Entered. If the recurring journal type is Purchase Invoice or Sales Invoice, you can select a rate determiner.

    If you use a dependent multicurrency system and the Rate Determiner is Manually Entered, you can change the rate between the transaction currency and the reference currency, and you can enter a rate date.

Step 3.  Transactions (tfgld0141s000)
  • Enter the transaction details such as the transaction amount, the ledger account and dimensions, and the tax details. You can enter multiple transaction lines.

  • From the appropriate menu, select Create Transactions from Document to generate transaction lines that are based on an existing invoice. You can select the transaction type and document number of the document you want to use. The Transactions (tfgld0141s000) session starts.

    These rules apply:

    • If the recurring journal type is Journal Voucher, you must enter at least two lines and the total amount must be zero.
    • If the recurring journal type is Purchase Invoice or Sales Invoice, you must enter at least one line. For purchases, the total amount must be negative (debit) and for sales, positive (credit).
Step 4.  Schedule (tfgld0143s000)
  1. View the lines and the resulting total amounts and tax amounts.

  2. On the Schedule tab, click New.

    You can only create schedules if the transaction lines fulfill the conditions listed in Step 3.

  3. For transactions that must be periodically reversed, select Included for Periodic Reversal in the Reversal Type field.

  4. In the Reversal Date field, enter the date on which the transactions must be reversed.

  5. For the same recurring journal definition, create a schedule with the reversal type Periodic Reversal and in the Generation Date field, enter the reversal date of the transactions that must be reversed. The schedule reverses all the transactions of which the reversal date matches the generation date. If the reversal dates of the journal transactions are different, you must create a Periodic Reversal transaction for each reversal date.

Step 5.  Recurring Journal (tfgld0140m100)

  • In the header, set the Recurring Journal Status to Released. LN validates the journal details and the instructions.

    A message is displayed to explain any errors. The status remains Registered. Correct the error, and then set the status to Released.

Step 6.  Schedule (tfgld0143s000)

  • The transactions will be generated when you run either of these sessions:

    • Generate Recurring Journal Transactions (tfgld0240m000)
    • Automatically Generate Recurring Journal (tfgld0240m100)

    A document and its reversal document are generated for a schedule line if the line's generation date falls within the specified period range.

    Note: The document date will be the generation date that you enter in the schedule. As a result, you must create a schedule for each time that you want the journal transactions to be generated. For example, if you want to generate the journal transactions monthly during one year, you must create twelve schedule lines with generation dates in the successive months.

If you select the Use Latest Currency Rates check box, LN uses the currency rates that are valid on the day when the transactions are generated. Otherwise, LN uses the currency rates you specified on the journal header.

Step 7.  Print Recurring Journal Proof List (tfgld0443m000)

You can optionally use this session to simulate the recurring journal transactions and print a report. Before you generate the recurring journal transactions, you can print this report to check whether the journal transactions will be correctly generated.

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