Slide 1

Slide notes: We will now see how we can set up a new Recurring Journal for regular and automatic posting.

Slide 2

Slide notes: In this example, we do not have any Recurring Journals yet; otherwise they would be showing on the list.

Slide 3

Slide notes:

Slide 4

Slide notes: To define a new or update an existing Recurring Journal, we choose 'Work with Recurring Journals'.

Slide 5

Slide notes: We choose our own Key for the Journal Code.

Slide 6

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Slide 7

Slide notes: The Description is important for Lookups and is also used on the standard Recurring Journal list. We can change it at any time, and because a Recurring Journal can never be deleted once it is defined, we can change the description to 'Redundant' or something similar when it is no longer used.

Slide 8

Slide notes: The Transaction description is what will be used every month when this Journal is posted.

Slide 9

Slide notes: The Document Number may be supplied from the automatic Document Number available on the lookup, unless we wish to specify our own.

Slide 10

Slide notes: The Ledger Debit is always a standard Ledger Account, or else a Debtors Control Account.

Slide 11

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Slide 12

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Slide 13

Slide notes: If we choose the Ledger Debit as a Debtors Control Account, then we will be prompted for the Debtor Account Code.

Slide 14

Slide notes: The Ledger Credit is always a standard Ledger Account or else a Debtors Control Account.

Slide 15

Slide notes: The Actual is the Amount to post.

Slide 16

Slide notes: A Selection Flag must be supplied, and can be an asterisk "*" when all Recurring Journals are always posted together. If not, then the selection flag can be some indicator that can be specified when certain Recurring Journals, all with this same flag, will be posted.

Slide 17

Slide notes: The state must be ON else the Journal will not be posted. Therefore, to de-activate a Recurring Journal, we can choose the OFF state.

Slide 18

Slide notes: We should specify the 1st Financial Period when this Journal is eligible for posting.

Slide 19

Slide notes: The Last Period is optional and does not have to be specified for an open-ended Recurring Journal that will be used indefinitely. If we wish the Journal to have only a limited life, then we can specify the Last Period at which it will be posted and after that, the system will ignore it.

Slide 20

Slide notes: When we choose SAVE, the Recurring Journal is created. We can return to it and modify it at any time. If we should change the Amount, Description or some other attribute, then such a change will affect only future postings and not postings that have already taken place.