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How to Post Recurring Entries in Business Central

There are certain routine entries that need to be recorded in the book, the transaction frequency can be by months, weeks or even by days. Some the transaction amount will be fixed through out the month like rental expenses, some amount might change all the time like utilities expenses such as electricity bill. With Microsoft Dynamics 365 Business Central (BC), all these conditions can be handled by different method such as: -

i.                     Using Microsoft Excel Copy and Paste function

ii.                   Using BC’s Recurring General Journal function


Most users will prefer using Recurring General Journal function to handle recurring entries, as it not only handles the above-mentioned conditions, but it also has additional feature such as Allocation which helps allocate the amount to different G/L accounts codes and Dimension.

 

Page: Recurring General Journals

 Recurring Method

This field determines how the amount on the journal line is treated after posting. For definition of how each Recurring Method works, you can read the full definition in Microsoft website by follow the link here.


Recurring Frequency

You can know the function by reading the name, this field determines the frequency of the transaction to be posted, whether is monthly, weekly, or even by daily. The code that system calculates the frequency is 1M (1 Month), 1W (1 Week), and 1D (1 Day). After every posting, the date in the Posting Date field will be updated to the same date in the next month based on the Recurring Frequency code.




Expiration Date

Setting this option can helps user to determine the date of the line which will be posted for the last time. The line will not be posting anything after this Expiration Date. Say currently there is a monthly accrual of rental need to be recorded for 1 year based on the agreement, setting the Expiration Date to 1 year later from the starting date will prevent user from accruing more than it suppose.




Allocation Amt.

Allocation feature helps to allocate a single entry to multiple G/L accounts and Dimensions when posting based on quantity, allocation percentage or fixed amount.





Using Fixed Rate Recurring Method to maintain monthly rental charges

In June 2022, there is a new office rental with rental of $24,000 monthly. The rental will be shared by 3 departments and this need to charge back to respective department. The rental will last for a year.

1.       Select “F Fixed” from the Recurring Method.

2.       Enter “1M” in Recurring Frequency as the recurring will be happen every month. Adding “+CM” will make sure the next Posting Date will always be set to the last day of the month regardless of which month it is.

3.       You can create a unique number series for each line instead of using BC standard number series. For this example, the number series is being setup to allow user to identify the area of the rental “MY-PJ01”, the year and the month of the rental “RENT%6/%4”. Period Code like “%4” can be combined with text to form a number series in Recurring General Journal.

The Codes represent: -

·       %1 = The day number of the period posting date

·       %2 = The week number of the period posting date

·       %3 = The month number of the period posting date

·       %4 = The month name of the period posting date

4.       Description can be combined with Period Codes to form a meaningful description.




5.       To allocate the charges to different department, select the Allocated Amt.





             6.   The charges is allocated by the percentage.




7.       Select Preview Posting to have a quick check before posting. Select Post to post the recurring entries.




8.       The entries will remain in Recurring General Journals entries after the posting. Only thing that changed will be the Posting Date, as it will reset to next month based on the Recurring Frequency.






Examining the General Ledger Entries, the Document Number and Description are posted accordingly, so does the charges are allocate to 3 different Department by percentage. When comes to following month which is 31st July 2022, user just need to go to the Recurring General Journals page and look for the line to do posting again.



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Location: Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

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