Recurring Journal Entries

[Pete]

Hi , I have seen someone has asked this question before.
So is it on the road map to have this function implemented?
Thanks.

[sharpdrivetek]

if the question had been asked before and was considered for implementation finding the necessity to have the same, you would find it categorized in the ideas section. if not, then there was no strong reason and was not considered to be implemented.

In Manager there is hardly any use for journal entries.
what is your use case for recurring journal entries?

[Pete]

Obviously you are not an accountant.

[Brucanna]

@Pete

Obviously you are not an accountant.

There is no need to be rude to another user who just asked a simple question "what is your use case … "

“Obviously” you can’t provide a simple explanation. I am an accountant - so “what is your use case” ?

In Manager, you can use “cloning” as a method for creating recurring Journals.

[queenbean84]

Recurring journal entries are found in every accounting/bookkeeping system I have ever used. As an accountant, we use journal entries for many different things, such as:

Allowance for doubtful accounts
Recurring accruals
Recurring prepaid expenses
Overhead allocation

It’s a staple of an accounting system. These types of journal entries are the same every month and the beauty of one is that you don’t have to remember to enter or clone it every month.

I agree with Pete. Why isn’t this feature available? For that matter, why isn’t Recurring Payables a feature as well? And yes, I can clone something, but that necessitates having to remember to clone something every month.

[acecombat2]

Was suggesting built in calendar for reminder in case we forgot.

Suggestion for calendar module

I feel like additional module for Calendar would be beneficial. To accommodate, Recurrence Sales or Purchase, To know Bill Due, To know when service subscribe due, When is the end of financial period and When is our Driving License or Business License Due, When is the Tax filing period. Then When is due, especially recurring ones, automatically enter accrued expenses or or accrued income. Same goes for prepaid, whenever we paid more than what is being fixed at, and pay before the end …

[Pete]

Hi Queenbean84

Can I ask a question?
As this feature is not available atthe moment, what are the steps involved in cloning a journal entry?
Thanks.

[ShaneAU]

1. Open the Journal Entry
2. Click the Clone button at the top

[Pete]

I’m using Version 17.12.6 (Desktop).
When I open a new journal entry I don’t see a “clone” button.
What am I doing wrong?
Thanks

[sharpdrivetek]

are you on the Edit screen or View screen? the Clone button appears on the View screen.

[Brucanna]

The clone process only applies to existing (not new) Journals and is available via the View button.

[Pete]

Hi Guys

Thanks.
I was looking via edit not view for the clone.

[sulfuror]

As an accountant, I find recurring entries as a bad habit. It’s just bad practice. You should not use automatic entries because, as I see the accounting books of a company, is like something alive. Sure, as a living human being we do things automatically every day, but that doesn’t mean there’s no error margin in what we do. As an accountant you should know that in some point you will have to edit those entries, stop them or delete one or two when you do it automatically. If you setup an automatic depreciation, for example, at the end of the year you would have to do some adjusting entries for taxes; if your asset are fully depreciated then you would have to stop the automatic entries so you would not have wrong numbers. Accrued expenses may vary in some occasions. There’s a lot of examples I could use against automatic entries but I have to say, as an accountant you have to review everything in every month end if you’re doing an accounting for a client, so that client has the numbers of his accounting as accurate as possible because some of them could make decisions based on their accounting numbers. We have to be careful. Sure, we are not perfect and maybe there will always be two or three errors, but we must do whatever we can to do our best work.

I would recommend to clone the entries. That way you can duplicate easily an entry and at the same time review what you’re doing and if you have to edit the entry. That’s what I do every time I have to repeat an entry. It could take me three seconds. I don’t do it just in Manager, I do it in Quickbooks, Sage and others, but the most useful feature for repeating entries, I have to say, is the clone feature of Manager.

[San_Thida_Myo_Latt]

is this possible to add ‘until’ features at recurring journal entries
we need some recurring journal entries for specific date only
thanks

[ShaneAU]

@sulfuror - for the recurring items that I have with a variable amount, I set the amount to something like -1, which means that after I manually generate the record I’m prompted to change the value because it appears as overpaid. This is how I handle recurring Purchase Invoices that are different each month.

I’m sure something similar could apply to the recurring Journal Entries, but I’ve never tried recurring those.