Recurring General Journal In Microsoft Dynamics NAV(Navision)

Recurring General Journal In Microsoft Dynamics NAV(Navision)

Recurring General Journal used to post transactions that recur with few or no changes to G/L, bank, customer, vendor and fixed assets accounts.

In a recurring general journal, you enter the relevant information for the transaction, such as the posting date, amount and the accounts you want to post to. You also enter information that tells the program about how often the transaction is posted. You can also specify automatic reversal the day after the posting date and allocate an amount among several accounts. The information you enter in a journal is temporary and can be changed until you post the journal.

After you post a recurring journal, the journal will contain the information for the next recurring transaction, and the posted transactions will be posted to individual accounts. You can view the results of posting a journal in the ledger entry windows and register windows. Posting with a general journal always creates entries on G/L accounts.

Recuring Journal having 2 special fields other than normal Journals

Recurring Method Field

Select a recurring method, if you have indicated in the Recurring field of the General Journal Template table that the journal be a recurring journal.

The recurring principle determines how the amount on the journal line is treated after posting. For example, if you will use the same amount every time you post the line, you can let the amount remain. If you will use the same accounts and text on the line but the amount will vary every time you post, you can choose to delete the amount after posting.

To see the options, click the AssistButton in the field.

• Fixed:The amount on the journal line will remain after posting.
• Variable:The amount on the journal line will be deleted after posting.
• Balance:The posted amount on the account on the line will be allocated among the accounts specified for the line in the Gen. Jnl. Allocation table. The balance on the account will thus be set to zero.
  Remember to fill in the Allocation % field in the Allocation List table.
• Reversing Fixed:The amount on the journal line will remain after posting, and a balancing entry will be posted on the next day.
• Reversing Variable:The amount on the journal line will be deleted after posting, and a balancing entry will be posted on the next day.
• Reversing Balance:The posted amount on the account on the line will be allocated among the accounts specified for the line in the Gen. Jnl. Allocation table. The balance on the account will thus be set to zero. A balancing entry is posted on the next day.

Recurring Frequency Field

Enter a recurring frequency if it is indicated in the Recurring field of the General Journal Template table that the journal is a recurring journal.The contents of the Recurring Frequency field determine how often the entry on the journal line will be posted. The field must be filled in.

The recurring frequency formula can contain a maximum of 20 characters, consisting of numbers and the letters, that the program recognizes as abbreviations for time specifications.
For example, if the journal line must be posted every month, enter “1M”. After every posting, the date in the Posting Date field will be updated to the same date in the next month.
If you want to post an entry on the last day of every month, you can do one of the following:

• You can post the first entry on the last day of a month and enter the formula 1D+1M-1D (1 day + 1 month – 1 day). With this formula, the program calculates the date correctly regardless of how many days there are in the month.
• You can post the first entry on any arbitrary day of a month and then enter the formula: 1M+CM. With this formula, the program will calculate one full month + the remaining days of the current month.