Recurring Journals: Unlock the secret to working smarter, not ...

Learn how to create recurring journals in business central and how ... the ability to set automatic reversals of entries which can be used ... RecurringJournals:Unlockthesecrettoworkingsmarter,notharder byCharmaineD'Silva|Mar29,2022|Blog RecurringJournalsaregeneraljournalsthatareused topostregulartransactionswithminimalornochanges. RecurringJournalshavethefollowingfeatures: theabilitytoallocateasingleentrytomultiplegeneralledgeraccountsanddimensionswhenpostingbasedonquantity,fixed-rate,orallocationpercentage; theabilitytosetautomaticreversalsofentrieswhichcanbeusedforaccrualjournalsthatarereversedinthefollowingmonth; amountscanbefixedorvariable; thejournallineinformationsuchasG/Laccountsanddimensionsandevenamountcanremainafterposting,savingyoufromhavingtoenterthejournaleachmonth; anexpirationdatecanbesetonthejournaltopreventpostingbeyondacertaindate. RecurringMethods TheRecurringMethodfielddetermineshowtheamountonthejournallineistreatedafterposting.ThereareeightrecurringmethodsthatcanbeselectedfrominBusinessCentral. Recurring Description FFixed Usewhenthejournalamountisthesameforeachperiod.Theamountinthejournallineremainsunchangedafterposting. Forexample,monthlyfixedexpensessuchasrent. VVariable Usewhenthejournalamountisdifferenteachperiod.Theamountonthejournallineisclearedtozeroafterposting. Forexample,monthlyvariableexpensessuchassalariesandwages. BBalance ThebalanceoftheaccountonthelineisallocatedamongtheaccountsanddimensionsspecifiedforthelineontheAllocationpage. Forexample,theallocationofanexpenseaccountacrossdepartments. RFReversingFixed Theamountofthejournallineremainsunchangedafterpostingandareversingentrypostsonthefollowingday. Forexample,monthlyaccrualofafixedamountinvoiceisnotreceiveduntilthefollowingmonth. RVReversingVariable Theamountonthejournallineisclearedtozeroafterpostingandareversingentryispostedthenextday. Forexample,monthlyaccrualofaninvoice(i.e.utilitybill)notreceiveduntilthefollowingmonth. RBReversingBalance ThebalanceoftheaccountonthelineisallocatedamongtheaccountsanddimensionsspecifiedforthelineontheAllocationpage.Thebalanceontheaccountissettozeroandareversingentrypostsonthefollowingday(iftheReverseDateCalculationfieldisleftblank). ThesameexampleastheBalancemethodbuttheallocationisonlyprovisional(i.e.temporaryallocationasitisonlyanestimateforperiodicreporting). BDBalancebyDimension ThebalanceoftheaccountbydimensionisallocatedamongtheaccountsanddimensionsspecifiedforthelineontheAllocationpage. SimilartotheBalancemethodbutthedimensionscanalsobespecified,withaprompttosetthedimensionfilterswhenthisoptionisselected. RBDReversing BalancebyDimension SimilartotheBalancebyDimensionmethodbutthejournalwillreverseonthefollowingday(iftheReverseDateCalculationfieldisleftblank). RecurringFrequency ThepostingdaterecurrenceisdefinedintheRecurringFrequencyfield.Enteringaformulainthisfielddetermineshowfrequentlytheentrywillbeposted. Forexample,iftheformula1Misenteredwithapostingdateof1/02/22,afterthejournalispostedthedatechangesto1/03/22. Topostthejournalonthelastdayofamonth,entertheformula1D+1M-1D(1day+1month-1day).WiththisformulaBusinessCentralcalculatesthedatecorrectlyregardlessofhowmanydaysareinthemonth. ReverseDate IfoneoftheReversingmethodsisselectedintheRecurringMethodfield,thenareversingentrywillbeposted.ThereisnowtheabilitytospecifywhenthejournalshouldbereversedwiththeadditionoftheReverseDateCalculationfield.Ifthisfieldisleftblank,thentheentrywillbereversedonthefollowingdaye.g.ajournalpostedonthe31/01/22willbereversedonthe01/02/22.Ifthisfieldcontainsaformula,suchas10Dfor10days,thentheentrywillbereversedin10daysfromthepostingdatee.g.ajournalpostedonthe31/01/22willbereversedonthe10/02/22. Bydefault,thisfieldisnotontheRecurringGeneralJournalspagesoyoumayneedtopersonalisethepagetoadditin.  DocumentNumberandDescriptionFieldFormulas BusinessCentralprovidesanoptiontoenterformulasintheDocumentNo.fieldtocreateanumberseriesforeachpostedentryinsteadofusingthestandardBusinessCentralnumberseriestodeterminethevalue.Thisfieldsupportsupto20alphanumericcharacterssoconsiderthislimitationwhenyouarecreatingformulas. Forexample,ifyouwantthedocumentnumberforthecurrentmonthsrentjournaltobeRENTJANUARYthenenterRent%4inthefield. Simpletextcanbecombinedwiththefollowingtextcodestoformanumberseries: •%1–currentdaynumbereg.postingonthe10thdayofthemonthwouldreturn10 •%2–currentweeknumbereg.postingonthe5thweekoftheyearwouldreturn5 •%3–currentmonthnumbereg.postinginAprilwouldreturn4 •%4–currentmonthnameeg.apostingdateof01/04/22wouldreturnApril ThetextcodescanalsobeusedintheDescriptionfieldofthejournaltoenterameaningfuldescriptioneg.RentAccrual%3/22wouldbecomeRentAccrual1/22iftherecurringjournalwaspostedwithapostingdateinJanuary2022.Usingthesetextcodessaveshavingtomanuallyupdatethedocumentdateanddescriptioneachmonthonyourrecurringjournals.  Allocations AllocationsareusedtoallocatetheamountontherecurringjournallinetoseveralG/Laccountsanddimensions.Asthebalancingfieldisnotavailableonrecurringjournallines,theallocationitselfisthebalancingaccountline. Allocationscanbedonebasedonquantity,amountorpercentage.Onceanallocationissetupitremainsintherecurringjournalafterpostingforfutureposting.  ExpirationDate YoucansetExpirationDatesontherecurringjournallines.Thisfieldisusedtolimitthepostingperiodbyspecifyingthelastdateoftherecurringentries,Thejournallineswillnotbepostedafterthedateenteredinthefield. Thebenefitofusingthisfieldisthatthelinewillnotbedeletedfromthejournalinstantlyoncetheexpirationdateisreachedandtheexpirationdatecanbeextendedifneeded. ifthisfieldisleftblankthenthejournalslineswillbeposteduntiltheyaredeletedfromthejournal. Benefits WorkingwithRecurringJournalsprovidesmoreoptionsthanusingstandardGeneralJournals.Entriesthatarepostedregularlyonlyneedtobeenteredonceinthejournalandthenwillremainuntilthejournallinesaredeleted. Thissavestimeondataentryaswellasminimisesentrymistakes. Wasthisarticlehelpful? Takeaquickvotetoletmeknowifthecontentwasusefultoyou. Yes No CharmaineD'SilvaCharmaineisaSolutionSpecialistatEBS.CharmaineholdsadecadeofaccountingandfinanceexperiencethroughoutindustrysectorsincludingHospitality,UtilitiesandNFP.AsanAccountant,CharmainehaspreviouslybeenresponsibleforthesuccessfulimplementationanduseofMicrosoftDynamicsNAVandJetreports,whereherdutiesrangedfromfinancialandmanagementreporting,varianceanalysisanddaytodayfinanceoperations. Searchfor: RecentPosts What’sthedifferencebetweenthe6datesontheSalesOrder? 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