Creating a Recurring Journal Entry
The purpose of this documentation is to provide detailed steps regarding how to create and post a recurring journal entry in Intacct. This process will be completed at the entity level. Please refer to the “Switching to the Entity level” documentation if assistance is needed in switching to the entity level.
When entering a recurring journal entry, all fields marked with a red asterisk are required to save the entry. All fields that do not have a red asterisk are optional, however, it may still be important to populate some of the optional fields.
Steps
- Click the Applications drop-down menu
- Click General Ledger
- Click the All tab
- Click the “+” sign next to Recurring Journal entries to create a new recurring entry
- Enter a Journal entry start date
- Select the Ending on value for the Recurring Journal Entry
- Never – select Never to keep the entry running perpetually
- Number of Occurrences – select Number of Occurrences to indicate a number of times that this journal entry should post
- End date – select a specific date for the Recurring Journal Entry to end by
- Note: There are further selections that need to be made based on the option that is selected. Different fields will appear for each option.
- Make a selection in the Posting repeat by field to have the journal entry repeat at regular intervals – i.e.: Months
- Note: If you make a selection in this field, you will need define the number of intervals that you selected
- Note: Based on the selection you make, different options may be presented for posting
- Define the number of intervals in which the journal entry should post
- Note: For example, by indicating a 1, the Journal Entry will post every “1” month.
- Make miscellaneous selections – i.e.: End of month
- End of month – if Months is selected as the Posting repeat by type, you can optionally chose to post the entry at the end of every month
- Select if you would like to automatically reverse this journal entry after it is posted – if selected, please see 9a
- Select if you would like to Link the reversing entry to the original journal entry or create an independent reversal schedule, as highlighted below
- Enter an email address if you would like to send an email alert when a scheduled entry fails
- Note: Type one or more email addresses. Separate multiple addresses with a comma or semicolon
- Select a Journal – i.e.: GJ –General Journal
- Enter a Description that will be used for every journal entry that posts from this Recurring entry
- Note: This should not be updated after entries have posted
- Select an attachment that will be attached to every journal entry that posts from this Recurring entry
- Note: This should not be updated after entries have posted
- Select the Location beginning with “PRL” that appears in the drop-down list for both lines of the journal entry– i.e.: PRL – 0000 – Demonstration Parish
- Select an Operating Unit for both journal entry lines – i.e.: Elementary School
- Select a Department for both journal entry lines – i.e.: 8405 – Instructional
- Select the GL Accounts for both lines of the entry – i.e.: 56510 – Salaries & Wages – SAL and 22015 – Accrued Payroll – APL
- Select an appropriate Classification, if applicable
- Enter a Debit amount
- Enter a Credit amount
- Review the line item memos and update if needed
- Click Save
