Stopping recurring journals before their term is over: Difference between revisions

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To stop the recurring journals which are already created in the Recurring journals file but not posted to ledgers when assets is sold out in the middle of the year. There are two  options for this, select any one and proceed further:
Recurring journals are created to post at selected intervals the relevant debit and credit instalment amount. These journals need to be manually initiated every month/period to post the past pending period. After initiation, the system automatically creates vouchers debiting and crediting the relevant accounts and instalment amount.


To Stop the recurring journals go to Recurring Journals in Finance > Journals > Recurring Journals.
Incase you create a recurring journal for 12 instalments, but mid-way through the year you decide to suspend the recurring journal due to various reasons which may include: termination of lease, sale of assets etc.  


1) Just delete recurring journal line only if it’s not needed for  future reference.
To stop the recurring journals, you have two methods from the recurring journal screen:


2) Drop down the amount of Total amount column by the amount shown in the Remainder column I.e.( drop the total amount to be posted) and make sure that the remainder column amount is ZERO and add a comment into the description of why it’s done and save it.
# Drop down the figure of Total amount column by the amount shown in the Remainder column (i.e.drop the total amount to be posted) and make sure that the Remainder column amount becomes ZERO and add a comment into the description stating the reason for this. This method is the recommend method as it keeps a track of the past recurring journals data entry.
 
# Not quite a recommended method, you can also delete the recurring journal line. This maybe used in cases where also the recurring journal is over and you do not need a reference in the recurring journal data entry screen as it unnecessarily takes up a lot of lines.
Now pass the sales entry from the Journal entries separately.

Revision as of 06:18, 5 July 2010

Recurring journals are created to post at selected intervals the relevant debit and credit instalment amount. These journals need to be manually initiated every month/period to post the past pending period. After initiation, the system automatically creates vouchers debiting and crediting the relevant accounts and instalment amount.

Incase you create a recurring journal for 12 instalments, but mid-way through the year you decide to suspend the recurring journal due to various reasons which may include: termination of lease, sale of assets etc.

To stop the recurring journals, you have two methods from the recurring journal screen:

  1. Drop down the figure of Total amount column by the amount shown in the Remainder column (i.e.drop the total amount to be posted) and make sure that the Remainder column amount becomes ZERO and add a comment into the description stating the reason for this. This method is the recommend method as it keeps a track of the past recurring journals data entry.
  2. Not quite a recommended method, you can also delete the recurring journal line. This maybe used in cases where also the recurring journal is over and you do not need a reference in the recurring journal data entry screen as it unnecessarily takes up a lot of lines.
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