Recurring-Standard Entries Maintenance

Use Recurring-Standard Entries Maintenance as a labor saving tool to create and maintain templates for standard and recurring journal entries that are to be posted repeatedly from one period to the next.  The templates are also useful for assuring that certain journal entries are entered every period.  The templates look like regular journal entries, however they are not yet associated with any specific period.  After you create the templates here, you can use them during period end to quickly create the live journal entries.

For additional information, click More.

Directions:

To see directions for...

• Opening Recurring-Standard Entries Maintenance, click More.

   

  1.  Click File Maintenance from the Menu Bar.

  2.  Click Recurring-Standard Entries.
  
  Tip:  Or, use the keyboard shortcut:  [ALT] [m] [r].
  
  
  Note:  You may also be able to access the General Ledger menu while in another INVISION module.  To activate the General Ledger menu in another module, the G/L Application Control must be set up for the module during installation.

   

  Recurring-Standard Entries Maintenance Window Example:

  

   

• Creating a new Recurring or Standard Journal Entry Template, click More.

   

  To create a new journal entry template:

  1.  Enter the new Reference.

  2.  Click Retrieve , or press [ENTER].
  Keyboard shortcut:  [ALT + t]

  3.  Enter the Reference Description, Run Code, and Journal Code.

  4.  Click New or press [ENTER].

  5.  Enter the debits and credits.

  6.  To finish, click Completed .

  Tip:  To indicate that you are building a new journal entry template, New  displays near the Reference.  Default entries display and the first field is highlighted to let you know you can begin entering information.

  Recurring Entries Maintenance Window Prompts Tip:  To see more information about a field, click the hyperlink for the field name.
  Reference	Enter a unique Reference to identify the template for the journal entry.  (up to 20 characters) Tips: To Search for templates, click Search . Keyboard shortcut:  [CTRL + f] This reference is copied to the journal entries when they are generated by the Create Standard Entries and Create Recurring Entries routines. You can use your own naming convention when creating the templates.  For example, you can prefix all recurring entries with RC and standard entries with ST to make the searches easier.
  Reference Description	Enter a description for the journal entry template.  (up to 30 characters) Tip:  This description applies only to the templates for your convenience.  When you create the live journal entries, it is not attached to the transactions.
  	To display an existing recurring journal entry template, enter the Reference and click Retrieve, or press [ENTER]. Keyboard shortcut:  [ALT + t]
  Run Code	Enter the optional Run Code, which you can use to group types of recurring journal entry templates together.  When you create the live journal entries, you can select the templates to use by the Run Code.  (3.0 numeric) Examples:  You can use the following convention for Run Codes on the recurring journal entry templates, or you can create your own meaning for the Run Codes. 1 = Monthly 2 = Quarterly 3 = Yearly
  Journal Code	Click one of the following Journal Codes in the drop-down list. RC - Recurring:  The amounts are exactly the same for every period.  You can not override the amounts during Create Recurring Entries. Examples:  Depreciation, prepaid insurance ST - Standard:  The amounts can vary from period to period.  You can override the amounts during Create Standard Entries. Example:  Bank service charge.
  Account Description	Displays the description for the Account Number.
  Account Number	Enter the Account Number for the transaction.  (format varies) Required. Tips: To Search for existing accounts, click Search . Keyboard shortcut:  [CTRL + f] If you enter an inactive Account Number, you will see the following message:
  Line Description	Enter an optional Transaction Description for each credit or debit transaction.  (up to 30 characters) Tip:  You can see the Transaction Description on the General Journal Listing and the General Journal Report after running Create Recurring Entries or Create Standard Entries for the period.
  Debit/Credit	Click the Debit/Credit Option in the drop-down list.  (predefined)
  Amount	Enter the Transaction Amount for the credit or debit.  (12.2 numeric) Note:  Always enter the Transaction Amount as a positive number.  To create a negative transaction, simply select the opposite Debit/Credit Option. Tip:  If you override the amount for a Standard (ST) template during Create Standard Entries, it also changes the template amount here.
  Transaction List	The Transaction List displays the following fields in each row. Entry - Detail line number. Tip:  This is not the same as the Entry Number created for the journal entry transactions by the Create Standard Entries and Create Recurring Entries routines. Account # - Account Number Description - Account Description Debit - Transaction Amount Credit - Transaction Amount
  	To add a new detail line for a transaction, click New.
  	To delete a transaction line, click to highlight the line, and then click Delete. Tip:  To delete an entire template, you must use the Delete Command on the File menu.  For more information, refer to the delete section later in this topic.
  	To save changes to a transaction line, click Save.
  	To clear the window for entering a new journal entry template, click Completed.
  	The Create Recurring Entries and Create Standard Entries routines set the Period Updated Flag to 1 for every journal entry template that is processed.  This prevents you from accidentally creating duplicates of the recurring and standard journal entries.  If you want to regenerate standard or recurring journal entries in a specific period again, you can reset all the flags to 0 (zero) so you can run the create processes again for the same period: 1.  Click the Reset icon. 2.  At the following prompt, click OK. Tip:  Generally, for normal processing where you only run the generate the recurring and standard journal entries once per period you will not have to reset the flag.
  Balance	Displays the sum of the debit and credit Transaction Amounts in the Transaction List. Note:  Do not complete the journal entry template unless this value is 0.00 (zero).
  	To close the Recurring Entries window, click Close . Or, click File from the Menu Bar, and then click Exit. Keyboard shortcut:  [ALT] [f] [x].

   

• Editing an existing Recurring or Standard Journal Entry Template, click More.

   

  CAUTION:  To avoid losing data, you must save new or changed records.

  1.  To display the record to be changed, enter the Reference and click Retrieve , or press [ENTER].
  Keyboard shortcut:  [ALT + t]
  
  Tip:  If you do not know the Reference, you can click Search  to see a list of recurring and standard journal entry templates.

  2.  To position the pointer to the information that you want to change, press [TAB] or click the field using the mouse.

  3.  To enter data changes for a detail line:

  4.  In the Transaction List, click to highlight the line to change.

  5.  Enter the changes.

  6.  Click Save .

  7.  To complete the edit process, click Completed .

   

• Deleting an existing Recurring or Standard Journal Entry Template, click More.

   

  1.  To display the record to be deleted, enter the Reference and click Retrieve , or press [ENTER].
  Keyboard shortcut:  [ALT + t]
  
  Tip:  If you do not know the Reference, you can click Search  to see a list of recurring and standard templates.

  2.  Click File from the Menu Bar, and next click Delete.
  Keyboard shortcut:  [ALT] [f] [d]

  3.  At the Delete prompt, click Yes to delete the record, or click Cancel to escape from the delete routine.
  
  Example:
  
  
  
  Note:  After you click Yes, you will see the following message on the Status Bar.