Dynamics NAV Recurring Journals

Dynamics NAV Recurring Journals


Well, hello. Welcome to today’s coffee break. We are discussing setting up and using recurring
journals. So a lot of companies already use recurring
journals for their payroll and we will go ahead and show that in case you don’t. But there are some other uses that I would
like to point out to you. So let’s go ahead and go to the recurring
journals. It’s in Departments, Financial Management,
General Ledger, and you’re going to go over here to Periodic Activities, General Ledger,
Recurring General Journals. So let’s open that up and I have a few batches
already set up in here. So I have one for American Express. That’s a bill that I get every month and
there are different expenses associated that I tend to process with my American Express
card. So I’ve sort of predefined those accounts. I will show you that. I’ve also got my payroll journal which again
I do in this case weekly and then I’ve got a few utility batches set up for utilities
that need to be paid the first of the month and then utilities that need to be paid in
the middle of the month. So I’m going to go through each of these
and sort of show you some of the nuances associated with them. So let’s go ahead and open American Express. All right. So basically what I have done is I’ve already
defined this as a recurring journal. What I’ve done is I’ve selected recurring
method of variable. So I know that I get this bill every month. But the bill varies as opposed to let’s
say a lease or a car loan. So if you had something that was a lease and
it’s a fixed amount every month, you would put “fixed” and then you would put in
that dollar amount. We just sort of stay there. In this case, the variable, which means after
I posted it, it actually zeroes out the amount again so that I am prompted to fill it in
every month. You also have the option to post the balance
of a GL account, so whatever the balance is as of that date will post that and then you
have reversing fixed, reversing variable and reversing balance. They work in the same way but they create
a reversing entry the next day. So that’s handy for month end if you’re
trying to do accruals. So you would post the last day of the month
and the reversing entry would take place on the first of the month. So here we go. We got our variable and the recurring frequency
for this bill is 1 M so once a month. The posting date is set to 2-28-17. So that will go ahead and roll forward to
the following month once I post this. The document type is “invoice” and here
I have something called the document number. Now the document number has this little code
in here, percent four. Percent four will actually get replaced with
the name of the month. So in this case, when I do the posting, the
document number will say “American Express, February 2018”. Let’s go ahead and change that to 17. All right. Then I’ve got my account type “vendor”
and I’ve got my American Express account number and here’s the amount. So if you get an invoice from a vendor, we
put it in as a credit, right? Then you would go through each of these expense
accounts and just put in the dollar amount for that expense. Obviously I’m making these up. I want you to see something down here. As I put in my different amounts, down here
the total balance keeps changing. So basically it’s keeping track of the fact
that your debits equal your credits and you will see it change when I put this last entry
in. Now the total balance is zero. So now this batch is actually ready to post. I’m probably going to have a posting date
error here because this date hasn’t occurred yet. I’m just going to change this. What it does is it keeps track of today’s
date versus the date you’re trying to post in an effort to prevent you from accidentally
posting in the future, so you don’t want to double up your postings. So I’m just going to – a little bit. Do a little bit more. Let’s make this the end of the month. OK. Now I’m ready to post. Great. It says I was successful and here we go. It rolled that date forward to the last day
of the next month and the amount has been cleared out because it knows it’s going
to change the next month. Now if I go over here to Navigate and go to
Ledger Entries, I can see that document number got replaced with the name of the month and
I can see the total amount here and of course I can navigate and do all those great things
that we can do with Navision. So I’m going to go ahead and close this
and then I’m going to take you to payroll real quick. So the payroll journal, same thing. The only difference here is that instead of
a vendor account, I really have a bank account. So I would come in here and again, it’s
a recurring method of variable. My frequency is one week. Here’s my posting date. My document type is blank because this isn’t
an invoice from a vendor. This is just a GL transaction. I’ve included a different sign here, percent
two. So percent two will actually get replaced
with the number of the week, of the year. I’ve already set up my different accounts. There we go. We will just put in some numbers here. Payroll taxes. We will say we collected 10,000 and then we
paid 10,000. All right and then I put in the amount that
came out of the bank and again I’m in balance. I can go ahead and post this batch. Now that I have, my posting date has been
incremented one week and my amounts have cleared out. Let’s do one that’s a little different
here, the utilities. All right. So I have some utilities. These are a little different. So I’ve got one, my phone – or I’m sorry,
postage. I know I’m going to have a postage amount
every month. But I don’t know what it’s going to be. Again, same with my phone. I get a phone bill. I just don’t know what it’s going to be
and then I have something here that’s fixed, like my lease. Now what’s nice about the fix is I can put
in the dollar amount and I can also put an expiration date. So if this is a lease for a year, you can
go ahead, put in that dollar amount and you will just post, post, post. You don’t have to fill in the amount and
it gets incremented. The date gets incremented with each posting. One thing that’s a little unique here is
the allocated amount. So here’s my expense account from my lease
and I’ve allocated 100 percent of this to this GL account. I could break it out. The reason that’s nice is when the year
end is up and our lease changes, all I need to do is change it in here and it automatically
updates the balancing account with that same amount. Let’s look at the phone. So the phone – say we’ve got a $200 bill. Unlikely but let’s look at the allocated
amount here. Now what I’ve done is I have a GL account
for my expense which is phone and I’ve got it repeated over and over again and I’ve
basically broken it out by department. So my dimensions are my different departments
within my company. So I can say 80 percent of this phone bill
gets allocated to sales. Fifteen goes to administration and five percent
goes to production and it will automatically break out that $200 bill into these different
dollar amounts once it’s posted and postage is just a straightforward allocation to one
postage account, to my one expense account and I’ve allocated one dimension to that
particular posting. All right. So those are nice to have set up in advance
so that you – you see if you miss a bill and you don’t have to retype things over
and over again. It will post to the vendor’s account and
the next time you do your tech run, those transactions will pop up as items that need
to be paid. That concludes our lesson on using the recurring
journals. I hope it helps you out. Thanks for watching this ArcherPoint video. If you found it helpful, make sure to check
out our website and blog at www.ArcherPoint.com. Additionally, if you have any questions regarding
our products, services or information in this video, feel free to email us at [email protected] Thanks.

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