Standing J/Es
- Loan Thai
Standing Journals Entries are journals for fixed amounts that are processed on a periodic (usually monthly) basis. Or, a pre-set of transactions that will be posted periodically. It is a quick convenient way to process repeated expenses/revenues.
Examples of standing journals are: Rent payments. Fixed salary amounts. Monthly insurance payments.
Pre-Requisites
Navigation
From Ledger > Maintenance > Standing J/Es
Create New Standing J/E
In this form, you create a Standing J/E with the pre-set Debit and/or Credit GL accounts, with or without a specified fixed amounts. These set of journal entries will be ready to be used when creating a Regular Journal Entries.
Click on the New button.
Example 1:
Enter an Alpha Key - Alpha Key is a short name for the Standing J/E, such as Membership Fee. Click Save.
Click Insert, select a GL account for the Debit and specify a Debit amount if any.
Click Insert again, select a GL account for the Credit and specify a Credit amount if any, then click Save.
If the screen is full, you can utilize the Prior or Next Button to access All details.
The Select button will take you back to the list of Standing J/Es.
You can Save or Delete a Standing J/E.
The Currency Maintenance button will show All the currency types set up in ERP.
Example 2:
Set up a Standing J/E with a set of GL transactions that needed to be created repeatedly every month such as Adjust Packaging Supplies Inventory. This would save some times and avoid making any mistake or missing any type of GL accounts.
Create a Journal Entry using a Standing J/E
Navigate to Ledger > Journal Entries
From here, you can create a Journal Entry for a Standing J/E.
Click on the button at the bottom right corner - New From Standing J/E.
A new window pop up and displays a list of All the Short Names for the Standing J/Es.
Select a Standing J/E that you want to create a new transaction, and click OK.
The system will return the main form with the Standing J/E transactions that you selected. Fill in the period number, debit amount, credit amount, and then click Save.
Example 1:
Example 2: