| # Recurring journals Recurring journal transactions are journal transactions that ERP Enterprise can generate regularly based on the transaction details and instructions that you set up in the recurring journal definition. Common costs such as the costs of the office buildings and parking spaces, a canteen, technical staff and security officers, and the costs of heating, electricity, and water, are often distributed over the various departments and sites of an organization on a fixed basis. You can set up recurring journal definitions to distribute such costs. For such costs, you can set up recurring journal definitions to generate the corresponding financial transactions and support the monthly accounting of the departments. The resulting reports provide useful management information and they are required in countries in which organizations must prepare consolidated financial statements and are requested to disclose profit and loss for each department separately. Recurring journal types The type of a recurring journal definition indicates the transaction category. These recurring journal types exist: Journal Voucher, to distribute costs across other departments or companies. Purchase Invoice, to generate simple recurring purchase invoices. Sales Invoice, to generate simple recurring sales invoices. For more information, refer to Recurring Journal Type Note In the Accounts Receivable and Accounts Payable modules, you can also create recurring invoices and recurring payments in these sessions: Recurring Sales Invoices (tfacr1514m000) Recurring Purchase Invoices (tfacp1113s000) The difference with recurring journal transactions of the Purchase Invoice or Sales Invoice type is that in the Accounts Receivable and Accounts Payable sessions, you can enter more transaction details. Currency rates Depending on the recurring journal type, you can select a rate determiner for the recurring journal transactions. If you use a dependent multicurrency system and the Rate Determiner is Manually Entered, you can change the rate between the transaction currency and the reference currency. When you generate the recurring transactions and whenyou print a transaction report, you can either use the currency rates that are valid on the day when the transactions are generated or the currency rates you specified on the journal header. Reversal transactions You can reverse recurring journal transactions if the recurring journal is of the Journal Voucher type. For example, to cover the telephone charges you can set up a recurring journal definition of the Journal Voucher type to monthly assign a fixed amount to the various departments. At quarter end when the actual telephone costs are known, you can reverse the journal transactions and charge the actual costs to the departments. You can set up reversal transactions as described in Schedule (tfgld0143s000). To use normal reversal transactions Another way to reverse the transactions is to create the instructions and select the Not Applicable reversal type. To reverse the transaction, create an instruction of the Normal Reversal type. This instruction generates the transactions of the recurring journal definition but reverses Debit and Credit. Note For the normal reversal transactions, ERP Enterprise uses the currency rate information of the generation date of the reversal transaction, which can cause currency differences. Related topics To set up recurring journals To generate recurring journal transactions |