What This Process Does


  • The Apply Recurring Journal Entry process uses the Recurring Journal Entry Templates to create actual Journal Entries to be processed.


Requirements


  • Before applying journal entries, a Recurring ID must be created.
  • Before applying journal entries, a recurring journal entry/template must be created that has the proper fields populated.


Apply Recurring Journal Entries


  1. Finance → Financial Management → J/E Tab → Apply Recurring J/E
  2. Populate applicable fields to create a recurring receipt based on the template created.
  3. Click Save/Apply once all fields are populated.



FIELDSOpt.Rec.Req.Description
Fiscal Year——♦Based on the default fiscal year chosen in Financial Management
Override Current Month♦——Select to override the current Fiscal Month
Fiscal Month——♦Based on the default fiscal month chosen in Financial Management
Recurring ID——♦The Recurring ID chosen for the journal entry being applied
Journal Entry Control♦——A user defined number assigned to the journal entry during the current session
Reference♦——A user defined number assigned to the journal entry during the current session
Total Journal Entry Amount——♦Total amount of the journal entry
Update Recurring Journal Entries♦——Set to TRUE to update Recurring ID
Select Type——♦
  • Automatic – If journal entries do not need to changed or skipped, select this option to process the journal entries
  • Process Exceptions – If changes are necessary or if some journal entries need to be skipped (not processed), select this option (see header below)
Proration Type——♦Defaults based on what was chosen when the Recurring ID and recurring template were built; cannot be changed
Last Applied Date♦——The last time the template being used has been applied
Opt. = Optional  Rec. = Recommended  Req. = Required


Process Exceptions


  • As described above, if a journal entry needs to be changed or skipped the Process Exceptions type needs to be selected. When the journal entry is saved, a second screen will appear showing the receipt that was created.
  • Click Select to Skip or Make Changes. The journal entry information will appear and will allow you to make changes or skip as needed.
  • Once you are finished, click the Save as entered, changed or to skip button. You will return to the original browse screen with the journal entry. Click Finished/Save to either process the journal entry or skip it for processing at a later date.