This is the fourteenth and last lesson in the series Learning Sage X3. In this lesson we will review repetitive journal entries, for which it may be more effective to set up recurring journal entries in Sage X3 to save time. Some common examples of recurring entries include: depreciation expense, rent expense, or expenses incurred for an insurance policy.
Complete the first step above, create the journal entry template. Navigate to Financials > Journals > Journal entry. Select one page, one column in the transaction selection screen for the journal entry. Click new in the upper right-hand panel and fill in all of the required fields shown below. After filling out all of the required fields shown below, click the create button in the right panel.
In the highlighted category selection above, choose ‘Template.’ The template category entry makes the journal entry available to tie to a recurring journal entry. The recurring entry created will be identical to the template.
Once the template journal is created, it still is not posted to the general ledger transactions. These postings show up in the general ledger after the recurring entries are created off of this template.
In this example, the entry type GENAJ – General Adjustment is used, but other options are available based on the needs of the entry. After hitting the create button in the right panel, the journal entry number is automatically generated. This number is important as it will tie to the recurring entry setup.
The Recurring Entry screen includes the setup and characteristics of the entry.
Navigate to Setup > Financials > Accounting forms: Recurring Entries.
The template journal criteria is used to link the recurring entry to the journal entry template previously created. Note: GL1711NA012000031.
The start date and end date fields shows the date range for the recurring journal entries.
The frequency field indicates the frequency of the recurring journal entry. In this example, it is once per month. Frequency options include: any number of days, weeks, 10-day periods, or months.
The Generation tab contains the option for the entry type and journal to be used for the recurring journal entries. In the example below, the entry type is Recurring Journals and the journal type is General Journals. At the bottom of the screen, the last documents section shows the latest recurring journal entries based off of the recurring task code (INS18).
After completing the setup, select ‘create’ in the right side panel. Now the actual recurring journal entries can be generated.
To create entries that will be posted to the general ledger, navigate to Financials > Current processings > Recurring entries: Recurring entries.
This screen includes a number of options and selection criteria to narrow down the Recurring Entries to be generated. The user has the option to enter a range of journal codes (recurring journal entry codes), or to do just one journal code at a time as shown above.
The recurring entry until date field highlighted above is important. This field allows you to set the end date / time frame for which the recurring entries should be posted until. For this example, by choosing 12/31/17, the system generates all twelve recurring entries (one per month), with the proper posting date. After filling out the criteria, click ‘OK’ in the right panel. Below is an example of the log file generated in this example – Shows one entry per month for all twelve months.
Below is an example of a recurring journal entry that was generated in the processing above.
Note that the entry type is RECJL – Recurring Journal. Also, all twelve entries have been posted (shown above in the left list). The process for setting up and generating recurring journal entries in Sage X3 is complete!
This is the last post in Learning Sage X3. All the other lessons in this series can be viewed at:
Lesson 1 of 14 - Important Acronyms and Definitions
Lesson 2 of 14 - General Navigation and User Interface
Lesson 3 of 14 - Sage X3 PU 11
Lesson 4 of 14 - Setting up Chart of Accounts
Lesson 5 of 14 - Sage CRM for X3
Lesson 6 of 14 - How to Add a Custom Report
Lesson 7 of 14 - How to Add a Column to a Left List in Sage X3
Lesson 8 of 14 - How to Export Data from Sage X3
Lesson 9 of 14 - How to Print a Report to Word and Excel
Lesson 10 of 14 - How to Configure a Field to be Mandatory
Lesson 11 of 14- How to Track Changes Made in Sage X3
Lesson 12 of 14- How to Configure Auto-number on Customers in Sage X3
Lesson 13 of 14 - How to Change Commissions in Sage X3
Contact us if you have more in-depth question or want to Learn Sage X3 or to request help with your system.