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.
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.
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. The journal entries post to the journal file when you run the Post Recur/Reverse/Allocating entry program. 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.
To access this program, click General Ledger> Recurring/Reversing/Allocating >Recurring/Reversing Journal Entry.
Click Field Descriptions for information on each field.
How to enter and maintain recurring and reversing journal entries