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Recurring Journal Entries
The kinds of entries appropriate to set up as recurring might be standard monthly depreciation or amortization entries. Other possible entries are monthly accruals or charges for liability insurance.
To enter Recurring Monthly Journal Entries, you need to do the following steps:
1. From the General Ledger Module, choose the Data Entry "Ribbon" and the Add/Edit Recurring Journal Entries Module step.
2. The G/L Session Settings form will be displayed.
3. Select the division, department and product most of the standard journal entries being entered belong to as the default.
4. Choose the [OK] button. The G/L Standard Monthly Journal Entries form will be displayed.
5. Enter lines of standard journal entries in the detail section until all standard journal entries are entered.
6. Choose the [Close Window] button to exit when the standard journal entries are complete.
7. Standard journal entries must be in balance (total debits must equal total credits) in order to update.
8. If the standard journal entries are out of balance, you will receive a message stating the amount you are out of balance.
9. Press [OK] to return to the G/L Standard Monthly Journal Entries form and make the necessary adjustments to bring the entries into balance.
10. Then press [Close Window]. Exiting with the journal entries in balance will update the standard journal entry table and return you to the main Module.
11. Note: When you are ready to post the standard journal entries, run the Update Recurring Journal Entries Module step from the General Ledger Module -Actions "Ribbon".