Defining a Recurring Journal Entry

When you define a recurring journal entry, you select the periods the journal entry recurs in and define the range of dates to start and stop creating the recurring journal entry. This procedure describes the process for defining a recurring journal entry.

To define a recurring journal entry

Access Recurring Journal (GL70.1).
Click New Entry to open Define Recurring Journal (GL70.2). Use this form to define recurring journal entry header information. Use the following guidelines to enter field values:

Type

Select the type of journal entry you want to create. The default is Normal, which lets you create a journal entry within one company. You can also select Intercompany, which lets you create a journal entry between different companies.

Note: You are limited to 9,999 intercompany journal entries per period per company.

Recurring

You must enter a number for the recurring journal. Recurring journal entry numbers are not automatically assigned for a company, even if the company has Yes selected in the Auto Journal Numbering field on Company (GL10.1).
Use the Main tab to define key information for the recurring journal entry, including information that defaults on transaction lines. Use the folloiwng guidelines to enter field values:

Journal Book

You can select a journal book for the transaction to group transactions. If you selected Yes in the Journal Book Required field on Company (GL10.1), this field is required.

Source Code

Type or select the source code to identify where transactions are created within a system. If you leave this field blank, Journal Entry (JE) defaults.

Description Default

Select the description you want to default on each transaction line. If you leave this field blank, the journal header description defaults. As an alternative, you can select Prior Transaction line, which copies the description from the last transaction line to the new one.

Reference, Document

Type or select a reference and document number associated with the transaction.

Base Zone

Type or select the base zone if your company uses zone balancing.

Currency Rate

Type or select the transaction nonbase currency code you are converting from. If the transaction currency is different from your company base currency, the amount is converted using the exchange rate you defined in the Lawson Currency System.

Auto Reverse

If you select Yes in this field, the new transaction lines you add on GL70.1 will be set to auto reverse.

Auto Zero

To clear the amount and units values each time the recurring journal entry is processed, select Yes in the Auto Zero field. Use this feature to create a recurring entry for a transaction that will have different amounts every period. Adding Amounts to Auto-Zeroing, Recurring Entries

Note: You can limit the valid periods as a way to force yourself to manage recurring entries. An invalid period causes an out of range status and forces you to maintain the entry.
Use the Valid Periods tab to define the date range and periods in which the recurring journal entry occurs. Use the following guidelines to enter field values:

Beginning Period, Year

Type the beginning period and year in which you want to process the recurring journal entry.

Ending Period, Year

Type the ending period and year in which you want to process the recurring journal entry.

Posting Day

You can type or select the day you want to post transactions to the general ledger. The application 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.

Transaction Day

You can enter a transaction day for recurring journal entries. This day is used by the currency exchange process to determine the exchange rate for the recurring journal entry. If you leave this field blank, the system day will be used for the transaction day.

Select Periods

Select the accounting periods for which the recurring entry is valid. The periods must be within the beginning and ending date range. For example, select periods 3, 6, 9, and 12 for a quarterly payroll tax entry.
If you use the transaction attribute feature, use the Attributes form tab to define attribute values.
Create recurring journal entry transaction lines on Recurring Journal (GL70.1). You can assign user analysis values, amount and unit values, an activity, and a description.
To define additional information for a transaction line, override information that defaults from the recurring journal entry header, or calculate the amount based on volume and rate information, click the More button to open Additional Information (GL70.4). Consider the following field.

Compute Amount Volume and Rate

You can type a volume amount and rate to create a computed recurring journal entry. The volume is multiplied by the rate to automatically calculate the transaction amount.
To display totals for the journal entry, click the Totals button to open Journal Totals (GL70.7) . Use this form to determine whether you need to make transaction line adjustments to eliminate differences between transaction currency and base currency amounts or between debit amounts and credit amounts.

Related Reports and Inquiries


To	Use
Create a detailed listing of each recurring journal entry transaction defined in Recurring Journal (GL70.1). You can list information for up to ten specific recurring journal entries to edit for accuracy before you release and transfer the recurring journal entries	Recurring Journal Edit Listing (GL270)
Create a summary listing of recurring journal entry header information	Recurring Journal Control Report (GL275)
View the operator code assigned to a recurring journal entry	Recurring Edit Listing (GL270) Recurring Control Report (GL275) Recurring Journal Interface (GL170) Recurring Journal (GL70.1)* Recurring Control (GL75.1)* *Drill around on Recurring field and select Recurring Detail