Recurring Journal (GL70.1)

Use Recurring Journal (GL70.1) to define and release recurring journal entries. A recurring journal is a journal entry that occurs more than once, such as a journal entry for a monthly rent payment, quarterly payroll tax, or semiannual real estate tax. There are two different types of recurring journal entries. A Normal journal entry lets you manually define the debits and credits for one company while an Intercompany journal entry lets you create a journal entry between different companies. The entire journal entry process consists of defining the journal entry, editing, releasing, posting, and if necessary, closing the period.

Processing Effect

When you release a journal entry, the journal entry becomes available for posting to the General Ledger.

If you use a ProcessFlow system for approving journal entries, journal entries that are greater than or equal to the approval amount defined for the company on the Journals form tab in Company (GL10.1) are routed to the ProcessFlow system for approval. These journal entries must be approved before they become available for posting.

More Information

After you release the journal entry, there are several programs available to verify information is correct before posting. Use Recurring Journal Control (GL75.1) to view journal entries, Transaction Analysis (GL90.1) to view transaction totals, Account Analysis (GL95.1) to view account information, and Split Distribution Report (GL238) to create a report that includes recurring journal entry data that were split distributions. If you included User Analysis values, use Error Transaction Edit (SL40.1) to view errors or Strategic Ledger Transaction Analysis (SL90.1) to view user analysis totals.

After you release the recurring journal entry:

  • Run Recurring Journal Edit Listing (GL270) to print a detailed listing of each recurring journal entry for accuracy.
  • Run Recurring Journal Interface (GL170) to transfer all recurring journal entries for posting in the General Ledger system OR use Recurring Journal Control (GL75) to transfer specific recurring journal entries.
  • Run Journal Posting (GL190) to update and summarize company account balances.
  • Run Recurring Journal Closing (GL179) to close the recurring journal system.
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