SAGE INTACCT TIP

Recurring Journal Entries

 

Recurring Journal Entries can be automatically reversed:

If the recurring journal entry is always reversed, you can schedule the reversing entry at the same time.

  1. Select the option to Automatically reverse this journal entry.
  2. Select the type of reversing schedule you want to create, and then specify the schedule details.

Schedule Option Description
Link reversing entry to original journal entry Lets you schedule the reversing entry for a certain number of days, weeks, months, or years after the original entry.
Create independent reversal schedule Lets you create a reversing schedule that isn't tied to the date of the original entry. If you select this option, you can use the same scheduling options that are available for the original journal entry.

 

Add basic information about the journal entry.

  1. From the Book drop-down menu, choose the book for which you want to schedule a recurring entry. This can be your accrual book, or if you have GAAP, Tax, or a user-defined books, you can select that here.
  2. From the Journal drop-down menu, choose the journal for which you want to schedule a recurring entry.
  3. In Description, type a brief description of the recurring entry. The description is displayed on the Recurring Journal Entry list. A good description can help ensure proper use by other users.
  4. To add a reference number such as an account number, in Reference number, type a number. The system can sort and filter recurring entries by reference numbers.
  5. To permanently and safely store a digital version of a supporting document, in the drop-down next to Attachments, select an attachment, or click Add, then upload your attachment. The document is only linked to the first transaction created by the Recurring Journal Entry.