Recurring Journals

A recurring journal is a journal entry that repeats at regular intervals (like monthly or annually) for routine transactions. It is commonly used for expenses that repeat over time on a consistent basis. Recurring journal entries can be automated in accounting systems to:

  • maintain consistency of financial statements

  • ensure accurate recording of routine transactions

  • reduce effort while minimizing the risk of errors

Create a Standard Recurring Journal

There is a new journal type called Standard Recurring. This type lets you define the frequency of automatic journal creation.

  1. Create Journal.

  2. For journal type, select Standard Recurring.

  3. For Recurring Journal Frequency, select one of the following:

    • All Time Periods

    • Monthly

    • Quarterly

    • Half Yearly

    • Yearly

    NOTE: The journal cannot recur more frequently than input periods allow. For example, if you are using quarterly input periods, you cannot have a monthly journal recurrence as Q1 would contain three months.

  4. Post a Journal. A new journal is created in the specified time period, and is a copy of the previous journal with the same naming scheme, settings, POV, and line items.

    NOTE: You must have process rights, as you are the creator of the recurring journal.

    You will receive a confirmation notice upon successful creation.

Journal import and export does not handle the Recurring Journal Frequency setting. Imports and exports that include standard recurring journals will default to All Time Periods.