Recurring Journal Entry
Contents
Overview of FW12
A recurring journal entry is one that will be repeated at regular intervals and can be expected to require very little or no editing each time it posts to the General Ledger. The Recurring Journal Entry program provides a template for the document generated on a recurring basis. To set up recurring journals:
- From the DDI Connect main menu, double-click FundWriter
- Double-click Recurring Journal Entry. You will see a screen similar to this one:
Add New Recurring Journal
To add a new Recurring Journal, click the New button on the toolbar. You will see this screen:
If you wish to enter a document number, you can do so here. Leave the field blank to select the next available document number. Click OK. You will see this screen:
Document Setup Tab
On the Document Setup tab, you have the following fields:
| Field | Description |
|---|---|
| Memo | If you wish to enter a memo for this document, you can do so here |
| Next date | Enter the next date that this recurring document should occur. You can type the date in a mm/dd/yyyy format or click the calendar icon to select the date |
| Recurring | Click the drop down arrow to select how often the document should recur |
| Amount | Enter the amount of the document |
| Document expires | Select when the document should expire |
When you have finished entering the information on this screen, click the Line items button or the line items tab at the top of the screen.
Line Items Tab
When you click the Line Items tab, you will see this screen:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Reference | The Reference field is a freeform text box that can be used as a brief description to indicate the purpose of the entry. For example, a loan number, gift number, or other notation |
| Line amount | Enter the dollar amount for the line |
| Percent | The Percent field will automatically update based on the dollar amount entered in the Line Amount field. You can also enter a percent here to automatically update the Line Amount field |
| G/L account | Enter the G/L account or click the list icon to select from a list of active G/L accounts |
| Due | If you click the drop down, you can select From or To. If you make a selection here, the Due From/Due To transaction process is activated. This feature can be used for things such as transferring funds from an unrestricted to a restricted account, or from a temporarily restricted to an unrestricted account |
| Memo | If you wish to add a memo to the transaction, you can do so here. For example, you might note the purpose of the line item, such as "Correcting Loan Transactions for June 2012" |
When you have finished entering the information, click OK. The system will populate the lower portion of the screen with the line information, and prepare for Line 2 entry:
Repeat the above procedure until you have entered all of the appropriate debits. When your total reaches 100%, the next line item automatically becomes a credit transaction:
The DDI system utilizes T chart accounting, and requires that each journal balance in full before it can be posted to the General Ledger. The total debits and total credits must balance completely before you can proceed with posting.
When you have entered your debits and credits, your screen will look similar to this:
If you need to edit a line item, you can do so either by double-clicking the line item or by clicking the Edit button on the toolbar. When you have made your changes, click OK.
Review the document. If all looks correct, click Save and select Save document. The recurring journal document has now been created.
Actions
When you click the Actions button, you will see these options:
Copy From an Existing Journal Document
You can copy an existing journal document to create a recurring journal. Click the Actions button and select Copy From an Existing Journal Document:
You will be taken to the Journal Document Inquiry screen. Search for the document that you wish to copy. You will see the results displayed. Click the journal you wish to use, and click Select:
The system will now take you into the New Recurring Document screen:
Enter the document number you wish to use, or leave the field blank to use the next available number. Click OK. You will now be taken into the document setup screen:
Proceed with modifying the document as needed. When you have finished, click OK. Click Save when you are done modifying and are ready to save the document.
Copy From an Existing Recurring Document
If you wish to copy from an existing recurring document, click Actions and select Copy From an Existing Recurring Document:
This will launch the Recurring Journal Document Inquiry screen:
Search for the document you wish to copy from. When you have located it, click once to highlight and then click Select:
This will bring you to the New Recurring Document screen:
Type the document number you wish to use, or leave the field blank to use the next available number. Click OK. You will now be on the Document Setup screen:
When you have finished entering the information, click OK. Review the document, and save when you are finished.
Copy From a Document Template
Document Templates allow you to avoid having to create recurring large journals from scratch. For example, if you have a monthly journal with multiple lines, you can set up a template that allows you to create each instance quickly. To create a new journal from a document template, click the Actions button on the toolbar and select Copy from a Document Template:
You will now see the Journal Template Inquiry for CEF:
This is a screen very similar to the Journal Inquiry screen. However, in the Document # field, type the template number to search:
You can also use other criteria to locate the template you wish to use. When you have located it, double-click it in the results screen or click Select at the top of the screen. This will launch you into the New Journal Document process:
Click OK. You will be taken to the journal entry screen, with the information from the template populated:
Modify the items as needed, and click Save when you have finished.
Edit an Unfinished Document Template
If you have an unfinished recurring journal entry, you will see this message when you first launch the Recurring Journal Entry screen:
Click OK. If you wish to work on the unfinished document, click Actions and select Edit Unfinished Recurring Document:
This will launch you into the Unfinished Recurring Document screen:
Click OK to proceed to the recurring journal entry screen. Once you have finished your changes, click Save.
View
To view a document, click the document and click View or double-click the document. This will launch you into the Document, in View mode. When you have finished viewing the document, click Exit to return to the Recurring Journal Documents screen.
Process
Clicking the Process button will launch the Process Recurring Documents process.
Find
Clicking Find will launch the General Journal Inquiry screen to search for existing recurring documents.
