Recurring Transactions

Recurring Transactions

Article Content: This article covers the use of Recurring Transactions, which are used to enter journal entries that post on a recurring basis with the same account and the same amount each time (permanent). To enter new Recurring Journal Transactions, follow the standard procedures provided within the Recurring Transactions section.

Step-By-Step:

Step 1: Go to the Recurring Transactions screen under General Ledger and select “New”:


Step 2: Enter a Description for the recurring entry and select Frequency (daily, weekly, monthly or yearly). Enter the Frequency Interval (for example, if the transaction should post every two weeks, enter weekly and 2)




Step 3: Select the Start Date and End Date. This will determine the length of time to process the journal entry.

Step 4: Next, you will enter the Source. A Source is a user defined alphanumeric field, which labels the entry. A Source Code MUST be entered. If you are entering an Accrual, check “reversal”.

*An accrual is a journal entry used to “guesstimate” an expense. These types of journal entries are posted for the month you are closing, but are reversed the first day of the next month, when the true expense is recorded* 

Step 5: Enter a Reference. The Reference line describes the purpose of the entry. This is optional.

Step 6: Next, Enter the Account Number(s) to be posted. The Account Name will default based on the Account Number that you have selected.


*The account field uses what's called the autocomplete or word completion feature. It works by creating a list of possible values based on what you've typed so far. A scrollable list will appear as soon as you start typing and the list will shrink and expand as you type. You can select an account by either clicking it with your mouse or using the up/down arrow keys and pressing the tab key* 

Step 8: Enter a reference. The Reference line describes the purpose of the entry. This is optional.

Step 9: Enter the amount associated with each account number. There are three fields available for use:

Debit - Enter a positive number reflecting the Debit side of the journal entry.
Credit - Enter a positive number reflecting the Credit side of the journal entry.
Stat- You can enter a Statistics amount here if the GL Account has an associated Statistics Account. Select “Insert”


If you are out of balance, you will see a warning with the amount that you are out of balance. Once your entry is complete, select “Save & Close”.

To Generate Recurring Transactions:
Once you have created recurring transactions, you will need to generate the recurring journals. To do this, you will first checkmark next to the transaction, then select “Generate”: 



Select your Cutoff date and hit “Submit”:


You will then need to go into GL transactions to review and post the Recurring journal. To view Journal details click on the icon next to the Journal ID. To post, checkmark next to the journal and click “Post”:


Once the journal is posted, you will be able to view it in Posted GL transactions:


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