Recurring journal entries
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If you enter the same journal entry regularly, you can save time by automating the journal entry. You can create a recurring entry for any type of book, including GAAP (Generally Acceptable Accounting Principles), tax, and user-defined books.
Recurring journal entries work the same as standard journal entries, except that the journal entry is repeated according to a schedule you set. You also have the option to set a reversing schedule for journal entries that are always reversed later.
Recurring General Ledger journal entries can be created only if your company uses standard reporting periods. If you use custom reporting periods, you cannot create recurring journal entries.
| Subscription |
General Ledger |
|---|---|
| Regional availability |
All regions |
| User type |
Business Employee (View only) |
| Permissions |
Recurring Journal Entries: List, View, Add, Edit |
| Dependencies | Scheduled jobs must be turned on in Company information. |
Add a recurring journal entry
There are 2 ways to add a recurring journal entry. You can use an existing General Ledger journal entry as a basis for creating a recurring one, or you can create the recurring journal entry from scratch.
From an existing entry
When you create a recurring journal entry from an existing journal entry, the original journal entry is not affected. The basic information is used to prefill the recurring entry, but they have no relationship.
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Go to General Ledger > All > Journal entries.
If the journal entry you want to use is a different type of journal, for example, a
- Find the applicable journal.
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Select Transactions.
- Find the applicable transaction in the list.
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On the More actions menu, select Edit or View.
- On the Journal entry page, from the More actions menu, select Recur.
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The Transaction tab uses the selected journal entry to prefill information in the new recurring entry, including line items.
You can change any information as needed.
Field descriptions Field Description Book The book that contains the journal you intend to record into with the recurring entry. This can be your accrual book, GAAP, tax, or a user-defined book. Journal The journal where the recurring entry will be recorded. Description The description is displayed on the Recurring Journal Entry list. Reference number A reference number such as an external account number was included in the journal entry, it appears here. Intacct can sort and filter recurring entries by reference numbers. Attachment If an attachment was included in the journal entry, it appears here. The document is only linked to the first transaction created by the Recurring Journal Entry. Line items The debits and credits of the recurring transaction. They can be kept as-is or modified if needed. The transaction must be complete to be saved. -
Go to the Schedule tab and create the recurrence schedule.
For more information, see Set the schedule for the journal entry.
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Go to General Ledger > All > Journal entries.
If the journal entry you want to use is a different type of journal, for example, a
- Find the applicable journal.
-
Select View transactions.
- Find the applicable transaction.
-
Select Edit or View.
- From the More actions dropdown list, select Recur.
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The Transaction tab uses the selected journal entry to prefill information in the new recurring entry, including line items.
You can change any information as needed.
Field descriptions Field Description Book The book that contains the journal you intend to record into with the recurring entry. This can be your accrual book, GAAP, tax, or a user-defined book. Journal The journal where the recurring entry will be recorded. Description The description is displayed on the Recurring Journal Entry list. Reference number A reference number such as an external account number was included in the journal entry, it appears here. Intacct can sort and filter recurring entries by reference numbers. Attachment If an attachment was included in the journal entry, it appears here. The document is only linked to the first transaction created by the Recurring Journal Entry. Line items The debits and credits of the recurring transaction. They can be kept as-is or modified if needed. The transaction must be complete to be saved. -
Go to the Schedule tab and create the recurrence schedule.
For more information, see Set the schedule for the journal entry.
As a new entry
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Go to General Ledger > All > Journal entries and select Add (circle) next to Recurring.
- Enter the basic information about the new entry.
Field descriptions Field Description Book 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 book, you can select that here. This selection acts as a filter for the Journal section. Journal From the Journal dropdown menu, choose the journal where you want the recurring transaction to be recorded. Description Enter 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. Reference number To add an external reference such as an account number, enter a number. Intacct can sort and filter recurring entries by reference numbers and will also help when reviewing recorded transactions. Attachments There are multiple ways to store a digital version of a supporting document:
In the dropdown next to Attachment, select an attachment
Select Add, and then upload your attachment.
Drag and drop a file from your Desktop or File Explorer.
The document is linked only to the first transaction created by the Recurring Journal Entry.
- Add line items. For each line item, include the following:
Field descriptions Field Description Account Select the account to which the entry applies. Debit or Credit In either Debit or Credit, enter the amount of the transaction. A single line can have a value in only 1 of these fields. As you enter debits and credits, the journal entry keeps a running total in the Total fields. This is a quick reference to ensure a balanced entry. When you enter the next transaction (on the next line), the system automatically enters the amount for the debit or credit from the previous line (or lines).Allocation If you use transaction allocations and want to set automatic distribution by line item, select the Allocation field, and then select the allocation that meets your needs. Enter the appropriate split Amounts, Departments, and Locations, and then save.
Dimension To assign the item to a department or location, select the Department or Location field, and then select the appropriate department or location.
Select other dimensions as needed, such as a customer, employee, or item. To save space, some dimensions might not appear as fields on the main page. Select a field and then select Show Details to see the full list. You can also change the page layout to include more dimensions.
Memo Enter a note regarding the reason for the entry. -
Go to the Schedule tab and create the recurrence schedule.
For more information, see Set the schedule for the journal entry.
Set the schedule for the journal entry
In the Schedules section, indicate when the first journal entry should be created, how often it should be repeated, and when it should expire.
| Options | Description |
|---|---|
|
Journal entry start date |
When the first journal entry should be created. Start dates can be set in the past or future. For past dates, when you save, Intacct automatically queues any ‘catch up’ entries to be recorded and you’ll see them as posted shortly. Be mindful not to select a date in a closed period. |
|
Ending on |
To keep the journal entry running perpetually, select “Never.” Otherwise, select a fixed number of transactions to be created or a specific date when the recurring journal entry should expire. There are further selections based on the initial selection you make: Never, After a number of occurrences, or End date. |
|
Posting repeat by |
To have the journal entry repeat at regular intervals, select Days, Weeks, Months, or Years, then enter the number of intervals. |
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To send an email alert when a scheduled entry fails, in Email field, type one or more email addresses. Separate multiple addresses with a comma or semicolon. |
See our tips for scheduling recurring transactions.
Optionally, schedule an automatic reversal for the entry
If the recurring journal entry is always reversed, you can schedule the reversing entry at the same time.
- Select the option to Automatically reverse this journal entry.
- Select the type of reversing schedule you want to create, and then specify the schedule details.
Schedule detail option descriptions 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.
Learn how Sage Intacct handles reversing journal entries.
Edit a recurring journal entry
Editing a line amount in a recurring journal entry can retroactively update previous journal entries.
To edit a recurring journal entry:
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Go to General Ledger > All > Recurring.
- Next to the entry that you want to change, select Edit.
- Update the entry as needed.
You can change any information in the entry, such as department, location, amount, or memo. Moving forward, those changes appear for the recurring entry.
You cannot change the reversal schedule for journal entries that were already created. Automated reversals can be created only for journal entries created through the same recurring journal entry.
Tips for scheduling recurring journal entries
The start date plus the interval determines the date used for subsequent transactions. For example, if you set a journal entry to start on March 15th and recur monthly, the first journal entry will be created on March 15th, with subsequent journal entries recurring on the 15th of each month thereafter.
| Option for repeating | How to use |
|---|---|
|
None |
Select this option if you want the journal entry to be created only once, which can be useful if you’re scheduling a particular entry to be recorded at a future date. |
|
Days |
Enter the number of days after which the journal entry should be repeated. For example if the Start date is 1/1/2023 and you enter 5 days, the first journal entry will be created on 1/1/2023 and the next one 5 days later (on 1/6/2023). The journal entry will continue to be repeated every 5 days. |
|
Weeks |
Enter the number of weeks that the journal entry should be repeated. For example, if the Start date is 1/1/2023 and you enter 1 week, the first journal entry will be created on 1/1/2023 and the next one 1 week later (on 1/8/2023). The journal entry will continue to be repeated every week. |
|
Months |
Enter the number of months until the journal entry should be repeated. For example, if the Start date is 1/1/2023 and you enter 2 months, the first journal entry will be created on 1/1/2023 and the next one on 3/1/2023. The journal entry will continue to be repeated every month. |
|
Months with “End of Month” option |
Select this option if you want the journal entry to be created at the end of the month, rather than on the same day as the start date. For example, if the Start date is 1/1/2023 and you want to repeat the journal entry every month, the first journal entry will be created at the end of January, the next bill at the end of February, and so on. Intacct always uses the last day of the calendar month as the end-of-month date, even if you use custom periods. |
|
Years |
Enter the number of years that the journal entry should be repeated. For example, if the Start date is 1/1/2023 and you enter 1 year, the first journal entry will be created on 1/1/2023, the next one on 1/1/2024, and so on, every year after. |
