The Recurring/Reversing/Allocating subsystem enables you to set up recurring/reversing or allocating journal entries that post into the journal file on a period basis.
Use the Recurring/Reversing Entry program to post depreciation on a recurring basis, or to accrue expenses for the period, and reverse them out the next period. You can set up standard monthly journal entries such as depreciation. This relieves the burden of making the same entry each period. You cannot end journal entry processing until debits and credits balance. Therefore, out-of-balance entries are not permitted.
Use the Recurring/Reversing Journal Entry program to enter and maintain recurring and reversing journal entries that post to the journal file on a monthly basis. After recurring and reversing entries are entered, you can change the amounts for the current period through the Current PD Recur/Reverse Changes program. You print a list of recurring and reversing journal entries at any time through the Recur/Reverse/Allocating Print program.
Use the Allocating Journal F/M program to create and maintain allocating journal entries. You can allocate percentages from a single (several) GL account number(s) to a single (several) GL account number(s) within the same journal. For example, several entries can be set up to take all the telephone expenses for that period and then allocate them to the proper departments by a percentage, or to take all the telephone expenses from the departments and divide them (by a percentage) between branches. As with regular journal entries, all recurring and reversing entries must be balanced entries. This program only allocates amounts posted to the from accounts in the journal you entered in the Journal field (field #1). For example, you post all of your AP accounts to a corporate AP account, 310-00-0. You then post to two branch AP accounts, 310-01-0 and 310-02-0, using an allocating entry. If you post to the corporate AP account in both journal 2000 and 6000, and only enter an allocating journal entry for journal 6000, only those posting to the corporate account in journal 6000 will be posted to the branch accounts. The postings to the corporate account in journal 2000 will remain where they are.
Use the Cur Pd Recur/Reverse Changes program to change the current amounts or memos on any recurring or reversing entry. If the current amount has not been changed, it is equal to the standard amount that was entered in the Recurring/Reversing Entry. You can change only transaction amounts and memos for recurring or reversing entries. The system resets transaction amounts to the standard amounts after posting. Memos are not reset. You cannot end journal entry processing until debits and credits balance; therefore, out-of-balance entries are not permitted.
Use the Recur/Reverse/Allocating Print program provides a list of all recurring, reversing and allocating entries. This program prints entries made in the Recurring/Reversing Entry program and Allocating Journal F/M program. The system prints entries in journal order, with their corresponding entries in numerical order. Report information includes the following: all information originally entered through the entry program and any changes made to the entry. Both current (recurring/reversing) and standard transaction amounts are shown. Journal totals are printed and any out-of-balance conditions are noted beside the respective journal total and entry.
Use the Post Recur/Reverse/Allocating program to post recurring, reversing and allocating entries into the journal file as regular journal entries. These journal entries are then treated like any other journal entry in the journal file. Recurring entries post each period. Reversing entries are posted in the order they were entered into the recurring/reversing entry file with the offsetting reversing entry posted the following period. For both recurring and reversing entries, once the entry is made, it posts every period the Post Recurring/Reversing/Allocating Entries program is run until the entry is deleted. The allocating entry creates an entry that reverses out the from account number(s) and posts it to the to account number(s). For example, if telephone expense is the from account and telephone expense-various departments is the to account, the system makes a journal entry to credit the telephone expense account number and debit the various department telephone expense account numbers. If recurring/reversing/allocating entries are used, you should run this program prior to printing the final journal print and the General Ledger reports for the period. The system resets the current recurring/reversing transaction amounts to standard amounts after posting. Entries posted appear on the next journal print and Trial Balance/Detail Ledger printed for this period. CAUTION! The system displays messages if a fiscal period has been skipped since the last posting, or if posting has already been done for the current period. Reposting overwrites any entries with identical journal and entry numbers.