5/20/2011 12:07 PM
Recurring journal entries are transactions that occur consecutively, although the amounts may change. This journal does NOT automatically post transactions at the requested date. The Recurring journal calculates and configures each entry so that you are able to review the transaction before it is posted. These entries maybe grouped into batches to make it easier to post only the one you will need.
These are some of the main places you may find recurring journals:
1. Financial Managementà General Ledger
2. Financial Managementà Fixed Assets
3. Jobsà Periodic Activitiesà Recurring Journals
Recurring Method, Frequency Code, and Expiration Date
When you make a recurring entry you must determine a type for the Recurring Method. The options are: Fixed, Variable, Balance. Next you will specify how often the entry will occur in the Recurring Frequency field. Based on the entry on this field, after posting an entry, the program will calculate the next date an entry should be posted and will enter that date in the Posting Date field. The journal also provides an expiration date field. The expiration date will determine the last time the entry will be posted. If the expiration date field is blank, the entry will post every time until it’s deleted from the journal line.
Recurring journal entries do not have balancing accounts. You will need to specify how you want to allocate funds into other accounts or you can enter another line to offset the amount. NAV provides an Allocations window from the recurring journal so you can distribute amounts in several ways.