Reporting to the MAX including Point of Sale and Non-profit Versions Tech Tip

 Question:
How do I set up a reversing General Ledger entry as a recurring item?

Answer:

1. Open General Ledger.
2. Click on Journal.
3. Click on Batch Control.
4. The most important thing here is that a batch CANNOT post a recurring batch, but you can transfer it to one.
5. Set up a batch and click the box that says Recurring Batch.
6. When naming the batch, it should be one that is remembered (example Original).
7. Then click on Save and Close.
8. Click on Journal then select Journal Entry.
9. I put codes on the reference lines to be shown in my audit rail and to be quickly found by a reference number, and I used a description that will go with it. This way I can see dates, or when we do a reversal date if the customer likes this.

Now they have to transfer it to another Batch and Post it. If  the 'Create Reversing Entry' check box is selected, enter the date you want to use for the reversing entry in the Reversal Date box. The date can be any date within your 3-year fiscal calendar. When using this feature, the reversing entry will be created and posted at the same time that the current entry is created and posted, but the date for the reversing entry (and hence the period into which the reversing entry will be posted) will be that which you enter in the Reversal Date box. If needed to use the reversals all the time but, change prices and dates, then set up a "reversal" recurring batch too. Otherwise, the recurring will just reverse it, and could be easy to see if using a date with "Description" of the Batch. Now with the "reversal batch" all your work and just have to change dates and amounts and use it over and over every month. Find the recurring batch each month, change the figures or dates and you will be able to use it over and over again. When bring up a Original or Reversal now keeping track is easier and with new Dates and/or amounts. Notices what it looks like on an Audit trail.