‌A recurring journal entry is a record that is made in every accounting period. Some recurring entries consist of identical accounts and amounts each month, while others involve the same accounts but with varying amounts. These entries can also be known as memorized or standard journal entries.

Note: If there are no journal entries in your environment or you want to start fresh, don't select a row in the header for a journal entry.

To create a new recurring journal:

  1. Navigate to the Journals module.
  2. Create a new query by selecting dimension members and choose OK.
  3. Select Create New from the header toolbar.
    The Create New Journal Entry window opens.

NOTE: The dimensions shown in red must be filled in to continue entering the journal entry. Certain dimensions can be prepopulated. The administrator can modify the journal entry configuration file to enable you to either pick a member or see a default member that either can't be edited or may be modified.  

ParameterValue
Dimensions
  1. Type a member into the correct dimension or select the Edit icon next to a dimension, such as Entity.
  2. Enter a specific Entity that may contain a journal entry, such as 120 in Search. 
  3. Double-click the member and select OK.
  4. Select the appropriate members for each dimension. 
JE tag

Type a JE Tag, for example, Revenue Reclass 1.

  • JE Tags can make searching for a particular journal entry easier. You can create a naming convention within your organization. 
  • JE Tags have a limit of 50 characters.
Description

Enter a description of why the journal entry is being created, for example, sales revenue reclassification.

The Description field is limited to 250 characters.

Recurring Journal Settings
  1. Select the Recurring checkbox if the accounting entry is to be repeated periodically.
  2. Select Edit next to the checkbox. 
    • If the Recurring To date is blank, the journal entry won't have an end date and will continue to recur. Once a Recurring To contains a date, the journal entry posting stops on that month. 
    • The Copy Journal Process runs the process of copying Recurring Journal Entries and checking for a value in the Recurring To field. 
    • You can change the Recurring From date. Initially, the Recurring From date reflects the Current Period from the Global Variables. However, you can select the Edit icon to choose a different date.
  3. Expand the suitable year and quarter.
  4. Double-click the correct month.
  1. Select OK, once all required dimensions contain a value.
    The Create New Journal Entry screen appears.

Add details to a journal entry

Once you have created a new recurring journal entry, to add details and populate other parameters:

  1. Select Create on the Detail toolbar to add a row to the journal entry.
  2. Enter or select search to add an account.
    The other dimensions may have a default value you may or may not be able to modify.
  3. Enter or select members for the other dimensions specific to your environment, such as Cost Center, Product, Intercompany, and Movement.
  4. Select the cell under Debit and type an amount and select Enter.
    The journal entry's total amount is highlighted in red to indicate it's off-balance. 
  5. Select the cell under Credit and type an amount and select Enter.
  6. Select Save. 
    You can create journals, save them, and not post them to the tenant.
  7. Select Post from the top toolbar to post the journal entry.