Jsih,
Recurring General Journals are used for a variety of reasons:
1. Recurring Accrual Entries
2. Depreciation Entries, when the Fixed Asset Granule is not employed
3. Amortization Entries
4. Payroll Entries
The above a just some examples. In addition to the concept of Recurring, you have the additional feature to make the entry both recurring and reversing. What this means is you can book and entry for a Accrued Payroll, at Month-End (which is very common), and on Day 1 of the new Accounting Period, reverse the entry. This type of entry is used often when closing the books to capture expenses in the proper Accounting Period but the actual invoice or charges still have not arrived and will the following month. You reverse the entry so when you book the actual invoice/charges you are not doubling up.
Recurring Fixed Asset Journal, I will have to admit for the last 23 years implementing NAV and BC, I have never used nor know a good reason to use it. Here is a written example:
Frequently posted transactions with a few or no changes can use the recurring journals. The Recurring General Journals and the Recurring Fixed Asset Journals can manage posting for both fixed amounts and variable amounts, and can also manage the allocation keys with the recurring entries.
Demonstration: Create a Recurring General Journal Scenario:
Annie the bookkeeper for CRONUS International Ltd. want to set up a Recurring General Journal for the monthly depreciations for the Toyota Supra 3.0 and the VW Transporter. Each vehicle have to be depreciated with the amount of 250 every month. The follow these steps to set up the recurring transaction:
1. In the Navigation Pane, click Departments, click Financial Management, click Fixed Assets, and then select Recurring General Journals.
2. In the Recurring Method field, click the drop-down list at select F Fixed.
3. In the Recurring Frequency field, enter 1M.
4. In the Posting Date field enter 01/31/2010.
5. In the Document No., enter 1001.
6. In the Account Type, click the drop-down list and select Fixed Asset.
7. In the Account No., click the drop-down list and select FA000020.
8. In the Amount field enter -250.00. 9. Go the next line.
10. In the Recurring Method field, make sure F Fixed is selected.
11. In the Recurring Frequency field, enter 1M.
12. In the Posting Date field make sure 01/31/2010 is selected.
13. In the Document No., make sure 1001 is selected.
14. In the Account Type, make sure Fixed Asset is selected.
15. In the Account No., click the drop-down list and select FA000030.
16. In the Amount field enter -250.00. 17. Go the next line.
18. In the Recurring Method field, make sure F Fixed is selected.
19. In the Posting Date field make sure 01/31/2010 is selected.
20. In the Document No., make sure 1001 is selected.
21. In the Account Type, click the drop-down list and select G/L Account.
22. In the Account No., enter 8830.
23. In the Amount field enter 500.00.
24. Click Post to post the recurring journal. 25. Click Yes to post the journal lines.
26. Notice that the Posting Date now has changed by one month to 02/28/10.
Recurring Item Journal I have also never used but can only imagine it is used for an entry where you want to disposed of an item over a period of time/remaining months of the Fiscal year.
To help you more, I am attaching my Recurring General Journal handout.
Hope this helps.
Thanks,
Steve
General-Journals-03.pdf
