Creating recurring journal entries

Recurring journal entries are entries that recur based on a defined schedule. For example, you may pay your insurance bill on one annual payment, but want the insurance expense to occur on a monthly basis. Use a recurring journal entry to expense the amount on a monthly basis even though the payment took place only once. This procedure describes the process for creating a recurring journal entry.

Create a recurring journal entry

  1. Use Basic Invoice (AP20.1) to add the invoice for which you want to create recurring journal entries.
  2. Click the More (*) button on the designated distribution line of the invoice. The Distribution Options subform appears.
  3. Click the Recurring Journal button to access Recurring Journal Interface (GL38.1).
  4. Create recurring journal entries.
  5. Specify this information:
    Recurring

    You can define Normal or Intercompany recurring journal entries. If you leave this field blank, Normal defaults.

    Description

    Specify a description of the recurring journal entry.

    To Company

    You can specify or select the company number you want to use in the journal entry. If you are defining a Normal journal entry, the From Company defaults. If you create an intercompany journal entry, this is the company you are posting the transaction to.

    To Account

    Specify or select the general ledger accounting unit you want to include in the journal entry. The accounting unit must exist in GL20.1 (Accounting Units-Accounts).

    User Analysis

    This field identifies the user analysis values included in the transaction.

    You can either specify up to four values to open the User Analysis Entry subform. Use this subform to select the user analysis values you want to include in the transaction. If you choose to specify values, use commas to separate them. For example: value1,value2,value3,value4. There are three conditions that affect how you can select user analysis values.

    For more information, see the User Analysis Entry form help or the Strategic Ledger User Guide.

    To Activity

    You can specify or select an activity you want to include in the journal entry. Activities are the actual tasks being performed by a project. The activity must exist in AC10.1 (Activity).

    Account Category

    You can specify or select an account category to include in the journal entry. The account category must exist in AC05.1 (Account Categories). An account category, or "cost category," is used to store and post Project Accounting transactions used for budgeting and reporting.

    Currency Rate

    You can specify or select the rate used to calculate currency exchange operations on non-base currency amounts. If you leave this field blank, the currency exchange rate defined in the Lawson Currency system defaults.

    Reference

    You can specify or select a reference associated with the transaction. Reference is a user-defined field used to track transactions. For example, specify a purchase order number for audit purposes.

    Posting Day

    You can specify or select the day you want to post the transactions to the general ledger. The system adds this number to the preceding period's ending date to determine the posting date. If you leave this field blank, the system uses the processed period ending date.

    Source Code

    You can specify or select the source code. A source code is a two character code that identifies where transactions are created within a system. If you leave this field blank, Journal Entry defaults.

    Beginning Period, End Period, and Select Periods

    Use these three fields to select the date range and periods in which the recurring journal entry should occur.