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Recurring entries are transactions that occur identically many times during the year. By entering them as recurring entries, they do not have to be entered repeatedly each time, removing the chance of data entry errors and speeding up the process.
Recurring Entry Procedure
Enter the Recurring Entries
Set up any new recurring entries or modify an existing one if necessary.
Activate the Recurring Entry
Choose the recurring entries to create and post.
Print the Recurring Transactions Report
Print the Recurring Transaction report and check that the entries selected are correct.
Create the Recurring Entries
Choose the option to create the transactions from the selected recurring entries.
Edit / Modify Recurring Entries
Using the Transaction Entry screen from the standard transaction entry option, edit the recurring entries created in the previous step as required.
Post Batch of Recurring Entries
Use the regular Post Batches screen to update the General Ledger files.
Creating Recurring Entries
Pgm: RECURENT – Setup Recurring Entries; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Setup Recurring Entries node
A recurring entry is a transaction that occurs regularly on a weekly, monthly, or quarterly basis. Entries can be defined ahead of the required processing date as each entry has a start and end date. This screen is also used for editing existing recurring entries.
Recurring Entry – Section
User
This field will default to the current user’s username – enter another valid username if required.
Entry Number, Name
Enter a code identifying this recurring entry. This code will be used to identify the recurring entry for editing purposes. This code must be unique within the General Ledger.
Enter the name for this recurring transaction. This name is used to describe the recurring entry.
Journal
Enter the journal to which this recurring entry will be posted.
Source, Reference
These fields are the same as in normal transaction entry. These should be used to record relevant data about the transaction.
Frequency
Select the frequency for this recurring entry. The system provides for the following frequency options:
"W" – Weekly, indicating a transaction that occurs once a week.
"M" – Monthly, indicating a transaction that occurs once a month.
"O" – Other, indicating a transaction that occurs randomly.
Frequency codes are used when querying the recurring transactions for activation.
Start Date, End Date
The start and end Dates allow for recurring transactions to reoccur every year, but the transaction may not be for the complete year. These dates can also be used during the selection process to limit, which recurring transactions are to be selected for posting.
Accrual Entry – Checkbox
Check the ‘Accrual Entry’ box if the recurring entry being defined is an accrual transaction. The system default is to leave this box blank indicating that the transaction is not an accrual.
Enter the Distribution – Recurring Entry Detail Section
This Recurring Entry Detail section is used to enter dispositions for the transaction specified in the previous section. Each line corresponds to one disposition, either a debit or credit.
Enter the company, department amount, and WM and units as required. There must be at least two lines of distribution and the debits and credits must sum to zero. If there is more than one company entered, the module will create the inter-company transactions at the time of posting.
Select Recurring Entries to Post
Pgm: RECURACT – Recurring Entry Activation; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Activate Entries node
The Recurring Entry Activation screen is used to select the recurring entries to be automatically processed by the module.
Based on the Frequency and Selection Date fields in the Selection Criteria section, the recurring entries are filtered and made available for selection in the Activate Recurring Entry section.
Frequency
Select the frequency code applicable to the recurring entries to be activated in the Activate Recurring Entry section.
Selection Date
Enter the selection date applicable to the set of recurring entries to be processed in this set. Only those entries where the selection date falls within the start and end date of the recurring entry will appear in the Selection Criteria section. Leave this field blank if the recurring entries are not selected based on date sensitive criteria.
Move to the Activate Recurring Entry section and select the entries. The screen will display all those recurring entries that fall under the criteria specified in the previous section. Use the vertical scroll bar to view the available entries.
Check the ‘Activate’ box beside the recurring entries required.
Recurring Transactions Edit List Report
Pgm: RECURLST – Recurring Transaction List; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Print Recurring Edit List node
This report should be used to ensure that only the required recurring entries have been selected. The report shows the details of the recurring transactions that are marked as active for a specific posting frequency.
Enter the starting and ending recurring entry codes, the frequency, and the active status. If this report is being used as an edit list, the Starting and Ending Entry fields should be left blank, the Frequency field should be set to the appropriate one used in the previous screen and the Active field should be set to “Active Entries”.
Create Recurring Entry Transactions
Pgm: RECURPST – Create Recurring Transaction; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Create Recurring Transactions node
The Create Recurring Transactions screen is used to generate General Ledger transaction entries from the recurring entries that have been selected in the previous steps. Once the recurring entries have been created, they are considered a standard unposted General Ledger batch.
Frequency
The frequency code selected should be the same as the frequency code used in the selection process.
Batch Number
Use the [Create Batch] button to create the batch that these recurring entries will belong to. If a batch has already been created, use the LOV to select the batch.
Post Date
Enter the required post date. The date of the batch will appear in the field, but this date can be changed as required. This is the post date that will be associated with the transactions as they are created in the General Ledger Transaction Entry screen.
Press the [Create Transactions] button to begin the creation process.
Edit/Modify Created Recurring Entries
Once the [Create Transaction] button was activated in the previous step, the recurring transaction is now just a normal transaction available in the Transaction Entry screen. If required, it can be updated, edited, added to, or deleted. If changed in this screen, the original recurring entry information is not updated, so the next time it is utilized, these same changes may have to be made again. To prevent this, the recurring entry itself should also be updated with the changes if it is not a one-time adjustment.
GL Transaction Edit List Report
Pgm: TRANSEDT – GL Transaction Edit List; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Print Current Edit List node
Use this report to review the General Ledger Unposted Transaction Edit List before posting the batch.
Post Batch of Recurring Transaction Entries
Pgm: GLPOST – Post Transactions; standard Treeview path: General Ledger > Transactions > Process Recurring Entries – Post Transactions node
Use the regular Post Batches screen to update the General Ledger files.