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When and How to use Balance in Recurring Journal?

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Posted on by joshtechsolutions

4,127

Hi Community,

I would like to find out when and how do you use Balance in Recurring Journal? I tried to input an amount like $500 but it keeps showing me error like the amount cannot be something

Thank you!

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YUN ZHU

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When and How to use Balance in Recurring Journal?

Sorry, I misunderstood your question. I hope the following information can give you some tips.

B Balance: The balance of the account on the line is allocated among the accounts and dimensions specified for the line on the Allocation page. For example, the allocation of an expense account across departments.

B Balance

The posted amount on the account on the line will be allocated among the accounts specified for the line in the Gen. Jnl. Allocation table. The balance on the account will be thus set to zero. Remember to fill the Allocation % field on the Allocations page.

Thanks.

ZHU

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KasparsSemjonovs 3,680 Super User 2024 Season 2 on at

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When and How to use Balance in Recurring Journal?

When this method is used, You can provide only a G/L account number there - for example account 7110.
Amount has to be 0.00

You must enter the Allocations to other G/L accounts - so they add up to 100%.

When posting the current balance of the G/L account 7110 will be created 0, and the amount it had will be re-posted based on the Allocation % to the other G/L Accounts.

So if You had account 7110 - Rental costs, and Balance of 10 000

You provide allocation of 7111 - 60%

and 7112 - 40%

The end result would be that 7110 balance would be 0,

7111 balance would be 6000

7112 balance would be 4000
joshtechsolutions 4,127 on at

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When and How to use Balance in Recurring Journal?

Hi YUN ZHU,

Thanks for your reply.

I wanted to know how to use Balance Recurring Method. Can you advise?

Thank you!
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YUN ZHU 68,757 Super User 2024 Season 2 on at

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When and How to use Balance in Recurring Journal?

Hi, you can try the following.

Hope this helps.

Thanks.

ZHU

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