The purpose of Setting up recurring entries is to save the initial setup time to save our hours and avoid a lot of repetitive work in the future.
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AR, AP and GL being the essential modules of Sage 300 provides us the facility of allowing recurring entries. It can be setup as auto generated process of entries which will eliminate the entry of same transaction again and again.
Rent payment, Monthly bills, prepaid charges, are some examples of recurring entries.
- To create recurring entries below are the options respectively with screenshots:
- For GL: GL Setup -> Recurring Entries
- For AP: AP Vendors -> Recurring Payables
- For AR: AR Customers -> Recurring Charges.
- Setup of recurring entries can be for a specific time period or for indefinite time.
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We need to assign a schedule to each recurring charge, and this schedule can be setup through Common Services / Scheduling.
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A reminder can be set for each schedule and a pop up will be shown on the screen when we will login to Sage 300. It will prompt you to generate recurring entries and will allow to generate them right from the reminder screen.
- After setting up the recurring entries, we need to generate it from Periodic Processing or creating recurring entries batch or else it can be run from the reminder popup.
- The entries will be placed in a batch to review and edit (if necessary) before posting.
- Another feature of Recurring entries is we can set to run recurring entries in future also like fiscal year ahead of time.
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Recurring Entries can only be run once per scheduled time period. Therefore, if we run our recurring batch and the entries need to be changed – we can edit them in our batch list before posting. Then update our recurring setup for the next time.
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We have to remember, we should avoid deleting the recurring entries as it cannot be re-generated and we have to enter it manually but in case any recurring entry gets deleted accidentally we can recover it using export/import functionality. Exporting an older recurring entry and then editing it in excel with correct data and importing the same as a new batch can solve our problem.
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