This function is used to generate actual GL Entries from the Recurring GL Journal templates.
This function would typically be run to implement your end of month transactions. Only those Recurring Entries with an eligible date range will be generated.
Validation has been added processing to Start Release Recurring GL to prevent duplication of recurring entries within the same Accounting Period. If the use attempts to do so, the message “Transaction has already been released and posted for this Period” will be displayed and the user will be prevented from completing the operation.
Posting Accounting Period:
Enter the Period that the regular (not auto reversing) generated entry(ies) should post to. This must be an active period.
Effective Date:
The Effective Date for the regular (not auto reversing) entries. The Effective Date must fall within the range specified by the Account Period.
Include Auto Reverse:
If you wish to release Recurring GL Journal templates that are flagged as Auto Reverse, you must check this box (by double-clicking or pressing Spacebar when the caret is on it). The system AUTO creates the reversing entry.
Auto Reverse Accounting Period:
If you checked the Include Auto Reverse box, you must select a period for your reversing entries. The reversing period must be later than the posting period, and must be active. Reversing entries will be made to the first day of the reversing period.
Cycle Code:
Enter the Cycle Code for the Recurring Journal templates you wish to release. Do not leave this field blank; if you do so all cycles will be released.
Click the Go button when you the range screen is correctly completed. When you do so, the system will display a list of recurring entries to generate, based on the parameters that you entered. At this point, you can select the ones that you wish to generate.
Do
This field enables you to select which recurring entries should be generated. A check appears in the Do field if an item is selected; by default, no recurring entries are selected. Double-click on the Do field to select or deselect an item (or press the Spacebar when the caret appears on this field).
Recurring (Journal Id) Earliest Effective: Latest Effective:
Code Cycle: Auto Reversing: Description:
The above fields are displayed for informational purposes so that you can verify which entries should be generated.
Click the Check button to check (select) every item on the list.
Click the Clear button de-select every item on the list.
Click Go to generate the selected GL Entries.