Standing General Ledger Journals

If you need to enter the same journal every month, you should set it up as a standing journal. A Standing Journal can automatically create a series of general journals that repeat over time on a regular basis. For example to record monthly depreciation on a motor vehicle.

Standing Journal Transaction Type = 'GLSTAN'

Setting up a Standing General Ledger Journal

1. From the Navigation panel click Financials, click on General Ledger and then click on Standing Journals
2. 'Click on 'New' 
3. Enter a date
4. Enter a Description in the 'Description' field to best describe the Journal
5. Enter the 'Manual Value' of the Journal
6. If the Journal is to be reversed at some point in time click on 'Auto Reversing' if not leave it Blank

7. On the Line level, commence selecting the general ledger accounts that make up this Journal

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   1. You can enter a different description or leave the default description
   2. Enter the value being either a debit or credit
8. Continue entering all the general ledger accounts and values

9. The Computed Debit Value must equal the computed Credit Value and this must equal the Manual Value.

10. Click on the Save action button

You can now do one of two things.
Leave this Standing Journal Open and Manually Click on Generate Journal when you need to OR set up the required recurrance rule on a Standing Journal and allow the system to create the Journal.

Generating the Standing Journal Manually

1. Highlight the standing journal that has been entered 

2. Click on 'Generate Journal' action button from the top ribbon
   

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3. Now enter a date to stand for the journal that is about to be created and click on OK

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   The system will create a General Journal for you with a transaction type of 'GLJSTD' and with the date you entered and a Status = Posted
   You can manuall generate as many General Journals from this Standing Journal as you like.

Creating Recurrence General Journals from a Standing Journal

1. Highlight the standing journal that has been entered
2. Click on the General Tab
   You will see a Recurrence Table that needs setting up. 
   Activate the settings that best suit your requirements and Click on Save.
   There is a task that needs to be activated to auto generate this recurring journal. Readysell can help you with the set up of this task