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I want to set up a recurring journal transaction and have not done so before. I read up on it in the documentation but have a couple questions. My intention is to go into 01.530.00 Generate Recurring each month and release the transactions. What do i select as the handling when setting up the initial Journal Transaction? Also, regarding the number of Cycles, do I include the current cycle in the count or only the number of future cycles?
Handling: Release Now (or Release Later if you want to let it loose on the system at a future date). You won't see the entry as available to generate until it's been released. (Be aware that the source entry will stay at a status of "Balanced" - so if you have report templates that look for unposted entries for month end close, you may want to modify them to exclude entries with a type of recurring.)
Number of Cycles: How many times to generate it - in total.
The original entry that you're setting up is basically used as the information that Generate Recurring Entries uses to create a clone of the entry for processing. It's never actually processed as an entry by itself. Each time it creates a new entry, it reduces the number of cycles by 1. So you want to include the total number of cycles you want to have occur.
As a side note - each entry created by the Generate Recurring will have the original batch listed in the Orig BatNbr field. This makes it easy to go back and modify the number of cycles in the future if you need to change how long the entry will be recurring.
One other odd thing about recurring entries - the period you select for the entry is the period the entry will start, and the Generate Recurring process will use the Current Cycle/Number of Cycles to figure out how many entries to create. So if you set up a recurring entry with a date 5 months ago, a current cycle of 1, and a number of cycles of 12, when you generate the recurring entry you'll get 5 entries - one for each period needed to catch up to the current posting period.
Hope that all makes sense!