Recurring Journals (tfgld0140m000)

Use this session to view, maintain, or create recurring journal definitions.

On the View menu, point at Sort By... to select various sort options.

To create a new recurring journal definition, click New. Alternatively, you can select a recurring journal definition and click Duplicate. You can copy the journal definition including or excluding the individual transactions and the schedule.

The recurring journal definition status

The status of the recurring journal definition determines which actions you can carry out.

These rules apply:

  • If you create a new recurring journal definition, the status is Registered
  • You can only change a recurring journal definition if its status is Registered.
  • You can only define transactions and instructions for a recurring journal definition if its status is Registered.

  • You can delete a recurring journal definition if:

    • The status is Registered.
    • The status is Released and all generated recurring journal transactions based on the definition have been posted.

You can change the status in the Recurring Journal (tfgld0140m100) details session.

Note: 

When creating, the recurring journals are in draft mode (checked-out).

The recurring journal can be submitted for approval only if the Recurring Journal Status is set to Released.

For more information, refer to Recurring Journal Status.

Field Information

Recurring Journal

The code that identifies the recurring journal definition.

Description

A description of the recurring journal definition.

Recurring Journal Type
Journal Voucher

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.

You can use this type to create:

  • Regular recurring journal transactions
  • Reversal journal transactions
  • Periodic reversal journal transactions
Purchase Invoice

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.

Sales Invoice

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.

Currency

transaction currency

Recurring Journal Status

The status of the recurring journal.

Allowed values

Registered

The recurring journal definition has been entered but not validated. You can add and change the transaction details and instructions. LN cannot use the recurring journal definition to generate journal transactions.

Released

The recurring journal definition and transaction details have been validated and the required recurring journal instructions have been defined for it. You cannot make changes to the recurring journal definition. LN can generate journal transactions based on the recurring journal definition.

You can set the status to Released if these conditions are met:

  • If the Recurring Journal Type is Journal Voucher, the total balance of the transaction details must be zero.
  • If the recurring journal type is Purchase Invoice, the total balance of the transaction details must be a negative amount because a credit posting is made to the control account.
  • If the recurring journal type is Sales Invoice, the total balance of the transaction details must be a positive amount because a debit posting is made to the control account.
  • If the Reversal Type of the instruction is Included for Periodic Reversal, a corresponding Periodic Reversal instruction must be present.
  • If the reversal type of the instruction is Periodic Reversal, at least one Included for Periodic Reversal instruction must be present of which the reversal date is the generation date of the Periodic Reversal instruction.
Not Used

You cannot make changes to the recurring journal definition, and LN cannot use the recurring journal entry definition to generate journal transactions.

For example, you can temporarily set the status to Not Used if you want to check its details.

Workflow Status

The status that is applicable if the business object requires authorization approval using ION Workflow.

When you perform a change that requires authorization, a checked-out version is automatically created for the business object. The changes you submit are only effective after approval/check-in. You can also undo your changes, or recall your submitted changes.

  • Checked-out and checked-in objects are displayed in the Checked-out Objects (ttocm9599m000) session.
  • From the appropriate menu of this session, select Workflow and execute the required action for the business object.

Allowed values

Note: For more information on setting up and using ION Workflow for business objects in LN, refer to the Infor LN Integration Guide for Infor ION Workflows and Monitors.