Recurring Journal Entries

Recurring Journal Entries

This module will allow you to set up and run recurring journal entries that take place on a regular basis. Recurring journal entries must contain the same value and utilize the same account numbers for each post or you should not use this module. Also, this module should not be used to take the place of any check printing procedures where you need check history in the system. When you enter this module, the screen will appear as follows: 

You will select the Set Up Recurring Entries option first to set up your recurring journal entries. When you click on this option, the screen will appear as follows:

Any existing Recurring Journal items will display in the box above. If you are setting up for the first time, click the Add button at the bottom right to prompt the Add Recurring Journal screen as follows:

The cursor will be positioned the Code (1) field. You must first create a code (up to 4 characters) describing this code, i.e. FFDE for Furniture & Fixtures Depreciation. The Refer(ence) (2) field is the same as the one in the Journal Posting module. RollMaster recommends typing “RECJRN” here to identify it as a recurring journal entry on the Account Detail Report. In the Comment (3) and Comment 2 fields, describe the recurring journal entry just as you would in the Journal Posting module. Click the Save button when this entry is complete. The data you just entered will then prompt in the fields below as follows:

The Seq(uence) (1) field will default to “0001” and the cursor will be positioned in the Acct Num field. Click the Acct Num (2) button to call up a G/L Account Selection box or type in an applicable account number. The Refer(ence)Comment (3), and Comment 2 fields will prompt the data entered in the fields above. You can change the D/C (4) field and then add a value in the Amount (5) field to complete this line. When all data is correct, click the Add button. Continue adding recurring journal entry lines until all lines that make up the recurring entry are entered and your debits equal your credits. Once this is done, click the Save button to save the Recurring Journal entry. 

Once you have added at least one Recurring Journal entry, you will see it listed in the Set Up Recurring Entries screen as follows:

To Edit (1) the header for a Recurring Entry, highlight the line in the screen above and Double Cick to pull up the Add Recurring Journal screen. Please note: you cannot edit the journal entries that make up a Recurring Entry, only the header data you see in the screenshot above. To make changes to an entry, delete it and re-enter with the correct data. To Delete (1) Recurring Entryhighlight the line in the screen above and Right Click to display the Delete option. Click Delete and the Recurring Entry will be removed from the screen.

When you are ready to process a Recurring Entry, select the Post Recurring Entries option from the Choose One menu displayed above. The system will promptPost Recurring Entries screen as follows: 

All Recurring Journal Entries previously created in the Set Up Recurring Entries option will display in the screen above. If applicable, adjust the Posting Period (1) and Posting Date (2) fields. You will then highlight and double-click (3) on each line you would like to select for processing. As lines are selected, a “Y” (4) will appear in the Selected column. As a reminder, you can change the Posting Period field and the Posting Date field where applicable prior to clicking the Post Selected button to process. The Recurring Journal entries will appear on the General Journal and will each have their own sequence number. There is no reversing entry option in this module. To reverse a recurring journal entry, make the applicable reversing entries in the Journal Posting module.

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