How to Create a Recurring Journal Entry
39 steps
|
2 minutes
1
Navigate to Brokerage Engine.
2
Click "Accounting"
3
Click "Settings"
4
Click "Recurring Transactions"
How to Create the Recurring Transaction
5
Click "New Recurring Transaction"
6
Select the Transaction Type from the dropdown menu.
7
Click "Journal Entry"
8
Click "OK"
9
Create a name by typing in the "Template Name" field.
10
Select the Interval by making a selection from the dropdown menu.
11
Select the day or date and the interval of the recurrence.
Scheduled Recurring Transaction
12
Make a selection from the "Type" dropdown menu.
13
Click "Scheduled"
14
Select how many days in advance should the scheduled recurring transaction be created.
15
Select the "Start Date" by clicking a date on the small calendar icon.
16
Select "After" from the End dropdown menu to set the number of occurrences. Type a number in the occurrences text field.
17
If an end date is desired, click "By" from the dropdown menu. If an end date is not desired, select "None".
18
Select an end date by clicking on the small calendar icon.
Unscheduled Recurring Transaction
19
Click "Unscheduled"
20
Unscheduled transactions don’t have timetables; you use them as needed from the Recurring Transactions list.
Reminder Recurring Transaction
21
Click "Reminder"
22
Click "Remind days before the transaction date" to set the timeframe of the reminder.
Create the Journal Entry
23
Select an Account from the dropdown menu.
24
Write the debit amount in the text field.
25
Click this text field to add a description.
26
If desired, select the name of a Vendor from the dropdown menu.
27
Select a class from the dropdown menu.
28
Select an Account from the dropdown menu.
29
Write the credit amount in the text field.
30
Once the rest of the Journal Entry has been created, click "Save"
31
Click "OK"
32
The Recurring Journal Entry has been created.
How to Use an Unscheduled Recurring Journal Entry
33
From the Recurring Transactions Menu, click on the Action button.
34
Click "Use"
35
Click "Save"
36
Click "OK"
37
The Journal Entry will populate with an automatically assigned Journal Number.
38
Click "OK" to record it.
39
The Recurring Transaction can be duplicated or deleted from the "Use" dropdown menu.
