Some transactions happen regularly over a period of time. Sage Intacct provides Memorized transactions functionality for speeding up transaction data insert process. Using a memorized transaction, we need to fill in the basic data like description, accounts, dimensions just once and every time when the transaction re-occurs after a certain time period we can edit the header and line items as per requirement before posting.
Memorized transactions are just like the normal journal transactions with a difference that we do not specify the transaction date or reverse date before we use/post them. When a memorized transaction occurs, we can keep it in draft mode if we wish to change anything later prior to posting.
Add a Memorized Journal transaction
- Go to General Ledger > Setup tab > Journals. A list of Journals appears. In the list, besides each Journal we can see a hyperlink to view the Memorized transactions for the journal.
- Click Add to add a new memorized transaction. Below screen will appear.
- On the header of the transaction, we fill in the description and other basic information of the transaction. Also we can enter a Reference number to add an identifier to the transaction.
- To add a digital version of any supporting document like an image, spreadsheet etc., select from the Attachment dropdown. We can attach a document to multiple journal entries as well.
- In the Entries section, we can manually add values to each line item, or click “Show defaults” to automatically select default values which can also be overridden.
- Enter the Accounts, Debit and Credit amounts, and tag the dimensions (location, department, employee, customer, vendor, etc.) you need.
- If JE balancing for the department or location dimension is configured in the General Ledger Setup page, then we need to choose the same department/location in the entries or leave it blank.
- For an inter-entity transaction, like we select the source entity, we also need to select the receiving entity.
Edit/ View a Memorized Journal transaction
- Go to General Ledger > Setup tab > Journals. From the list of Journals, click the hyperlink besides the journal you want to view the Memorized transactions for that journal.
- Then click Edit or View next to the transaction you need.
Modify Memorized transaction page layout
If you are an administrator, only then you can change the layout of the line item panel. Drag and move commonly-used fields to more convenient/ easily accessible positions on the page to accelerate data entry. Changing the page layout affects look and feel for everyone who will use that page. To modify the layout, Click More actions on the top right corner of the edit/add/view screen > select Edit entries layout.
To Drag and move the field you want, just hover over it until you see a four-headed arrow.
For applying modified layout to all the Edit, Add and View pages, select the “Apply the layout changes to all form views (Create, Edit, View)” checkbox. Then after doing the changes, click Save layout. If you want to revert back to the default layout, click Reset to default.
Memorized Transactions are very useful for rent payments, payroll processing or any such processes which occurs on regular basis and also time saving.