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Update Recurring Journal Entries
The Update Recurring Journal Entries Module step is used to post the standard journal entries to an accounting period. These entries are set up from the General Ledger Module - Data Entry "Ribbon" using the Add/Edit Recurring Journal Entries Module step.
The purpose of standard journal entries is to allow you to set up standard recurring journal entries and then record them in each accounting period by simply running a Module step. The type of entries appropriate to set up might be standard monthly depreciation or amortization entries. Other possible entries might include monthly accruals or charges for liability insurance. These journal entries are then updated to the appropriate accounting period by selecting the Update Recurring Journal Entries Module step.
This procedure should be performed once a month to post the previously entered standard journal entries into the journal entry table.
If you try to update the same period twice you will receive a message that the standard journal entries were already updated for the selected period.
For step-by-step instructions, see the Common General Ledger.