Setting Up Recurring Transactions

If you have transactions that occur each accounting period with little or no difference in content (such as journal entries for depreciation, utility bills, or payroll entries), you can create recurring transaction files to help speed your transaction entry for these items each month.

Recurring transaction files do not get deleted after they are posted. After a recurring file is posted, you can select the file in transaction entry and "recreate" it to make it available again for posting, to modify the dates, reverse the amounts, or modify it just like any other transaction.

When you set up a recurring transaction file for the first time, it is available for posting in the current period by default. For this reason, the Recreate File option is disabled. However, after the file is posted, this option becomes enabled. You can then select this file for posting in a future period.

Transaction Date Validation for Recurring Transactions

If your company implemented transaction date validation to ensure that transaction dates are always in the currently active fiscal year or accounting period, that validation applies also to recurring transactions.

If transaction dates must be in the currently active fiscal year and you recreate a posted recurring transaction for which the file end date or the transaction date is not in that fiscal year, Vision automatically displays the Change Transaction Dates dialog box, and you must change the dates to be in the fiscal year.

Similarly, if transaction dates must be in the currently active accounting period and you recreate a posted recurring transaction for which the file end date or the transaction date is not in that period, Vision automatically displays the Change Transaction Dates dialog box, and you must change the dates to be in the period.

Some transaction dates, however, are never subject to this date validation (for example, employee expense dates or labor adjustment dates).

Recurring Journal Entries

To increase efficiency, Vision offers additional features for processing recurring journal entries, including the ability to:

• Schedule the posting of a journal entry for a future date.
• Define the number of occurrences or an expiration date on a recurring file.
• Clear amounts after posting.
• Automatically reverse a recurring file. You can also schedule the reversal to post on a defined reversal date.