Creating Recurring Journal Entries

Agenda
General Ledger Ledger & Ledger Sets

1. Recurring Concept 2. Recurring Type 3. Define Recurring 4. Generate Recurring

Dr

Cr

Subledger Accounting (SLA)

Tax Engine

Inter Company

Bank Model

Multi-Org Access Control

Inventory

Receivables Payables

Projects

Work in Process

Purchasing

Recurring Concept What is the Recurring Define recurring journal formulas for transactions that have a common format or that enter frequently

Types of Recurring Journals Skeleton Affect the same account each period, but have different posting amounts. Standard Same accounts and amounts each period. Formula Use formulas to calculate journal amounts that vary from period to period

Recurring Type

1.1 Blank Template for PTD entry of Headcounts for each Branch and Department of PPT Retails.

1.2 Chief Accountant of Silom office also want to generate Accrued Rent Expenses from Recurring Journal Template amount 500,000 baht every month-end.

Define Standard Recurring Journal

1. Navigate to the Recurring Journals definition window.

Define Standard Recurring Journal (Cont.)

2. Enter a Name of recurring batch, Journal Entry (Journal, Category, Currency).

Define Standard Recurring Journal (Cont.)

3. Choose Lines to Enter a journal

Define Standard Recurring Journal (Cont.)

4. Enter a Line number to set the order of journal entry lines. 5. Enter the Account that you want GL to update when generate and post standard recurring journals as first line in table below. 6. Enter a Step number to specify the order in which you want to process the steps in formula.

Generate Standard Recurring

1. Choose Generate button to generate the journal for current period 2. Choose Submit

Generate Standard Recurring (Cont.)

3. Choose the current period and submit the recurring journal, Choose Submit button.

Generate Standard Recurring (Cont.)

4. Verify the Process Completes by choose Views and Requests as picture below.

Generate Standard Recurring (Cont.)

5. Choose Find and then we will see the Phase and status as picture below

Generate Standard Recurring (Cont.)

6. Navigate to the Journal Entry Window to complete our unposted standard journal

Generate Standard Recurring (Cont.)

7. Enter a Batch Name of Accrued Rent Expense and Choose Find Button

Generate Standard Recurring (Cont.)

8. Choose Review Journal button

Generate Standard Recurring (Cont.)

9. Then Choose Post button to update balance account

1.3 Moreover, Chief Accountant need Recurring Journal Template to auto calculate Reserve for Bad Debt 5 % from PTD Receivable transactions.

Define Recurring Journal

1. Navigate to the Define Recurring Journal window.

Define Recurring Journal (Cont.)

2. Enter a Name and optional Description. 3. Choose a Recurring Batch Type. - Single Ledger - Multiple Ledger

Define Recurring Journal (Cont.)

4. If you want to copy entries from an existing recurring journal batch to your new batch. Choose AutoCopy Batch (Optional) .

Define Recurring Journal (Cont.)

5. Enter a Name for the recurring journal entry. 6. Enter the Category. 7. Enter the Currency.

Define Recurring Journal (Cont.)

8. Enter optional a range of Effective Dates that includes only those periods for which you want the recurring journal entry to be used.

Define Recurring Journal (Cont.)

9. Choose Lines to enter the account you want General Ledger to update when you generate your recurring journals.

Define Formula Recurring Journal Lines

1. Enter a Line number to set the order of journal entry lines. 2. Enter the Account you want GL to update when generate and post recurring journals 3. Enter an optional Line Description for the recurring entry line.

Define a Formula
4. Enter a Step number to specify the order in which you want to process the steps in formula. (formula can contain an unlimited number of steps.) 5. Enter a factor for the formula step.

EasyCalc Operator

Symbol Enter + x /

Operation Enter Addition Subtraction Multiplication Division

Example a complex formula

[(A+B)]*C]/(D+G)
Factor
A B C

Operator
Enter + *

Explanation
Specify the first value A. Next, specify the operator Enter to separate the second value from the first. Specify the second value B. Next, specify the operator to perform the addition calculation with the value A. Specify the third value C. Next, specify the operator to perform the multiplication calculation with the sum of the values A and B. Specify the fourth value D. Next, specify the operator Enter to start the next calculation. Specify the fifth value G. Next, specify the operator to perform the addition calculation with the value D. Specify the division operator to perform the final calculation.

D G

Enter + /

Define a Formula
6. Enter the Account you want to include in your formula step. 7. Choose a Balance Type of Actual or Budget. 8. Choose an Amount Type.

Amount Type
Amount Type Meaning PTD Period-to-date balance of account YTD Year-to-date balances for income statement accounts and life-to-date totals for balance sheet account. PATD Period average-to-date YATD Year average-to-date EOD End-of-day

Define a Formula
9. Choose a Ledger Currency. 10. Choose a Currency Type.

Define a Formula
11. Choose the relative Period balance you want to use in your formula.

Automatic offsetting line

12. Enter 9999 as the line number for the automatic offsetting line. 13. Enter an Account for the line but do not enter a formula. GL will automatically calculate the amount for the journal entry line when generate recurring journal.

Generate Formula
1. Click Generate menu to create formula recurring template

Generate Formula
2. Click Submit to confirm to use the template

Generate Formula
3. Define the template period to use

Generate Formula
4. Click Submit menu to verify request of the formula recurring template from system

Generate Formula
5. Click Refresh Data until completed phase and normal status

Generate Formula
6. The request was verified and it was available to use.

7. Navigate to the Journal Entry window, click Enter to view a journal

Generate Formula

View Journal Enter

Questions?