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A recurring journal is a journal entry that should be entered and posted periodically. Each time the journal should have the same accounts but the amounts could be different. To create a recurring journal, you define a recurring journal template that you use to generate almost automatically the journals periodically. Recurring Journal templates can include fixed amounts or formulas to find amounts based on balances of pre-determined accounts.

Recurring Journals is not the only feature General Ledger has to
facilitate repetitive journal entries. Other options that can be used
to create repetitive journals are the Applications Desktop Integrator (ADI)and MassAllocations. Depending on the characteristics of the repetitive journal entry, one of these tools will suit your needs best.
Understanding the advantages, the scope and the features of Recurring Journals will enable you to determine when Recurring Journals is the appropriate feature to use.


Recurring Journal Characteristics
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A recurring journal entry has the following characteristics:

- It has to be entered and posted periodically.
- It has the same set of accounts each time that need to be included in the journal.
- It has the same number of journal lines.
- A recurring entry line could consist of:
-- The account combination and no amount. This is a skeleton journal line.
-- The account combination and a fixed amount. This is a standard line.
-- The account combination and a mathematical formula to find the amount each time the recurring journal is generated. This is a formula line.

Recurring Journal Examples
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Some recurring journal examples are:

- Statistical Journal entries: Number of employees in each department,
units sold by product during a time period.
- Depreciation expenses.
- Amortizations of a deferred cost.


Define and Generate Recurring Journals Procedure
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Step 1. Define the Recurring Journal
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Form: Define Recurring Journal Formula
Navigation: Journals > Define > Recurring

The recurring journal entry consists of three parts: recurring batch,
recurring journals, and journal lines. These are the same parts a regular journal entry has; however this form allows you to define a sort of template to use to generate journals each period with the same characteristics.

A recurring journal batch has a unique name and can contain a single or
multiple recurring journal definitions. The system keeps track of the
last accounting period the journals were generated for, and the date it
was last generated. The information about the last time a recurring
journal was generated prevents you from generating the journals for the
same period more than once.

A recurring journal entry (header) has a journal name, category, currency and effective period.

The recurring entry lines consists of the following information:
line number, account combination, line description, and formula.

To define the recurring journal entry batch and the recurring journal entry header just enter the information for each of their parts.

For all journal line types the journal line number and the account combination should be defined. A special journal line is the offset line. This line is used to automatically balance the journal entry generated. Enter 999 as the line number, enter an account, but do not enter a formula.

In the formula area, the information to enter depends on the journal type.

-- Skeleton (Fixed amount):
Enter the step number, operator, and amount.

-- Formula Journal (Calculated amount):
Enter one or more steps to express the operands, operators, account
combinations, balance type, and amount type. The formula should be entered in post-fix notation, as in some financial calculators. Post-fix notation requires first the operands and then the operators. The balance types are Actual, Budget and Encumbrance. The amount types are: PTD (period-to-date), and YTD (year-to-date).

Step 2. Generate the Recurring Journal
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Form: Generate Recurring Journals
Navigation: Journals > Generate > Recurring

This form shows the recurring journal batches defined, the last time
the batch was generated and the period the batch was generated for.
Select the recurring batch you want to generate, and the accounting
period for which the generated journal must be created. Press Generate to submit a concurrent process that generates the recurring journal batch.

The concurrent program is GLPRJE - Recurring Journal Entry. If any errors occur the request log file of this concurrent process should be reviewed.

Step 3. Review and Complete the Generated Journal
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Form: Enter Journals
Navigation: Journals > Enter

Find the journal generated, using the accounting period and the following name notation: <Recurring Batch Name>: <Date> <Time>.

When the recurring journal definition is being tested, the journal
entry generated should be reviewed to verify the results are as expected. If the journal is not correct, review and modify the recurring journal definition.

For a skeleton journal, the generated journal must be completed with the amounts.

Step 4. Post the Generated Journal
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Form: Post Journals
Navigation: Journals > Post

Find the recurring journal generated to post as explained in the previous step.
Select it for posting and press the Post button.

Step 5. Schedule the Recurring Journal Generation (Optional)
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Form: Submit Requests Standard Form
Navigation: Reports > Request > Standard

Select the concurrent process Recurring Journal Entry.
Enter the parameters: name, period and budget (if the recurring batch uses budget amounts).
Press Schedule button.
Define a new schedule or use a pre-defined schedule.
Submit the process.

The schedules can be defined to execute just one time on a specific date and time, or to execute periodically.