If you create the same journal every month, the Recurring Journal feature can save you time and effort.
For example, you use a journal to record a mortgage payment that is automatically withdrawn from your bank account. Instead of creating a new journal from scratch every month, you can create a template and then use it to create the monthly journal in a few clicks.
To set up a template
Open an existing journal and click the Repeat button.
The New Template screen appears.
Fill in the date fields: Date From, Date To, and Post Day (the day of the month that will appear on the journal).
Select a Book. Options are Cash, Accrual, Both, and any custom books in your database.
By default, all the months of the year are selected, but you can make changes as needed.
Note: The Repeat button does not appear on a template, i.e., you cannot make a new template from an existing template.
To post recurring journals
Go to Accounting > General Ledger > Post Recurring JEs.
You can filter by property or you can leave that field blank to view all of them. Enter a Post Month and Post Date and click Display.
Select the templates you want to post. Click Post to create the JEs. An example is shown below.
In the Notes field, the journal is identified as :PostRecurring.
With the Recurring Journals feature, it is easy to keep track of the regular journal entries required by your business. Once you set them up as recurring journals, you can view them on one screen and post them all together.
To inactivate a recurring journal template
The Post Recurring Journals screen shows all the recurring journal templates that are active for Property and the Post Month you enter in the filter.
To make a recurring journal template inactive, change its end date (the Date to field). If this date is in the past, the template will not appear on the Post Recurring Journals screen.