1Initial Setup File Maintenance
Option 9Recurring Entries
You can use this function to set up journal entries that recur periodically but no more than once a month. The transactions are actually generated when :”Generate Recurring Entries” on the Transaction Processing menu is selected.
Any recurring journal entry can be defined as “reversing” or “adjusting”, and can be designated as a Source, a Use, or a Neither for the purpose of printing a Statement of Cash Flow.
When you use this function, a record of all entries will be printed. For additions, all new field contents are printed; for deletions, the deleted record’s contents are shown; for changes, both old field contents and new field contents are shown; and in all cases, the User ID, date, and time are printed.
The screen shown below presents information about Recurring Entries.
This file stores general information for the journal entries which are automatically generated every month when the Generate Recurring Entries function is run.
An example of a recurring journal entry might be an entry to record the monthly rent expense, or monthly depreciation expense. Even a quarterly dividend check can be set up as a recurring entry, since you can identify which months to generate the entry. Also, recurring entries can be set up with zero amounts, and you can enter the amounts in Transaction Processing after the recurring entries have been generated.
Initial Setup Recurring Entries screen
When the key value for a particular record is requested, you can review all the records in the file by selecting the Scan option. The records will be presented on an “Access” screen, and you will be allowed to scan the available data until you find the record you want. Then, position the cursor by that record and press ENTER; the record will be displayed for editing.
Note that the Audit Info option is available at the bottom of this screen. When this option is invoked, the Audit Information overlay appears and displays the date the record was created and who created it, as well as the date the record was last modified and who modified it. Press the END key or the RETURN key to clear the overlay from your screen. The information displayed in the Audit Information overlay is system-supplied and non-modifiable.
Data items for the preceding screen are described below:
- Transaction
Positive number, up to 4 digits Scan by this field (access key)
The system provides a number for each recurring entry established. It may be changed.
- Description
Alphanumeric, up to 30 characters
Describe this recurring entry. This description will be transferred to the journal entries file when the recurring entries are generated, and will be printed on the journal and the distribution reports as a part of your audit trail.
- Limit
Number, up to 9 digits and 2 decimals
Identify the limit that cannot be exceeded for journal entries generated from this recurring entry. The limit can be expressed either as total debits (a positive number) or as total credits (a negative number). If there is no limit, leave this field blank.
For example, if this recurring entry depreciates an asset, you might want to ensure that it depreciates that asset only up to its depreciable value.
- To Date Amount
Number, up to 9 digits and 2 decimals
The amount accumulated to date for entries generated from this recurring entry is shown.
When this amount equals or passes the limit in the previous field, no more entries will be created. If the limit is expressed as total credits, this amount will be negative.
- Start Month
Positive number, up to 2 digits
Supply the month in which this entry is first to be created. This will be the calendar month if you are using 12-month accounting; it will be the fiscal period if you are using 13-period accounting.
- Start Year
Positive number, up to 2 digits
Supply the year in which this entry is first to be created. This will be the calendar year if you are using 12-month accounting; it will be the fiscal year if you are using 13-period accounting.
- Months to Generate
Alphanumeric, up to 13 characters Letters and numbers only
If you are using 12-month accounting, twelve letters appear. If you are using 13-period accounting, 13 numbers appear. These numbers or letters identify each month or accounting period of the yea. Delete the letters or numbers that identify months in which this entry is NOT to be created. Be sure that each letter or number that remains appears in the same position it was originally displayed.
- Reference
Upper case, up to 6 characters
Provide a reference for this entry. This reference will be transferred to the journal entries file and printed on the journal and distribution reports as a part of your audit trail.
- Auto Reverse?
Y or N Default N Required
Indicate whether or not this entry is to automatically create a reversing entry during Close Month processing.
- Intercompany
Upper case, up to 3 characters Scan available
If this is an intercompany transaction, supply the code from the Intercompany Names file which identifies the company.
- Intercompany Reference
Upper case, up to 4 characters
If this is an intercompany transaction, supply an intercompany reference for this transaction.
- Currency
Alphanumeric, up to 6 characters Scan available
If this entry is in a currency other than the domestic or “home” currency, supply the code from the Exchange Rates file that identifies this currency.
The entered data is validated. During validation, including access to other files, conditions may be found which cause messages to be displayed. Errors (E), Warnings (W), and Messages (M) that may result are shown below:
Press ENTER to display system-supplied information and then press ENTER again to continue to the next screen.
Select the Next Record option to go to the next Recurring Entries record.
At this screen, the use of the MODE keys - ADD, DEL, CHG, or INQ - pertain to those records in the Recurring Entries file.
The screen shown below presents information about Recurring Entry Items.
This file contains journal entry line items which are automatically generated every month when the Generate Recurring Entries function is selected from the Transaction Processing menu.
Initial Setup Recurring Entry Items screen
When the key value for a particular record is requested, you can review all the records in the file by selecting the Scan option. The records will be presented on an “Access” screen, and you will be allowed to scan the available data until you find the record you want. Then, position the cursor by that record and press ENTER; the record will be displayed for editing.
Data items for the preceding screen are described below:
- Line No
Positive number, up to 3 digits
The system defaults a sequential line number.
- Account
Upper case, up to 12 characters Required Scan available
Identify the account to which this entry is to be posted. The system displays the description so that you can verify your entry.
- Amount
Number, up to 9 digits and 2 decimals
Supply the amount of the entry. A credit entry requires a minus sign.
- Sub Code
Upper case, up to 16 characters Scan available
If the Sub Type is ‘GL’, you must enter a subsidiary code and a posting is made to the Subsidiary Codes files. Identify the subsidiary code to which the transaction is to be posted. The subsidiary code is only used if the Sub Type is ‘GL’.
- Adjustment?
Y or N Default N Required
Indicate whether or not this entry is an adjustment to the sources/uses amounts. If ‘Y’ is entered, a credit entry will reduce month-to-date and year-to-date uses, and a debit entry will reduce month-to-date and year-to-date sources, in the Account Balances file.
- Sources/Uses/Neither (S/U/N)
Upper case, 1 character Valid: S, U, N
If a Statement of Cash Flow is to be printed, use this entry to specify how the amounts are to be accumulated in the Account Balances file. Blank (‘ ‘) is a valid entry.
Blank: Credits are accumulated as sources; debits are accumulated as uses.
- S
- This allocation is to be accumulated as a source.
- U
- This allocation is to be accumulated as a use.
- N
- This allocation is to be accumulated as neither.
The entered data is validated. During validation, including access to other files, conditions may be found which cause messages to be displayed. Errors (E), Warnings (W), and Messages (M) that may result are shown below:
Press ENTER to display system-supplied information and then press ENTER again to save the information on this screen.
Select the Previous Image option to go back to the Recurring Entries screen. Select the Next Record option to go to the next Recurring Entry Items record. Select the End option to go to the next Recurring Entries record.
At this screen, the use of the MODE keys - ADD, DEL, CHG, or INQ - pertain to those records in the Recurring Entry Items file.