Exercise - Create and post a recurring journal

  • 15 minutes

This exercise is written to use the Cronus sample company from the US version of Business Central. You might need to make adjustments to the steps if you use the sample company from your country or region.

Scenario

On March 1, 2019, CRONUS signed a new vehicle repairs and maintenance contract for a fixed amount of 1,000.00 LCY, which is due on the twenty-third of every month.

As the accountant, it is your responsibility to set up and post this expense, starting March 2019 with an expiration date of March 2020. You also want a document number to reflect an abbreviation of the expense (VRM) and the number of the month.

Use the RECURRING general journal and DEFAULT batch to credit this expense to the Cash account (10300) and allocate it to the company departments as follows:

  • Administration Department: 18 percent

  • Production Department: 58 percent

  • Sales Department: 24 percent

Tasks

In this exercise, you'll perform the following tasks:

  • Use the Recurring Journal to set up the vehicle repair and maintenance expense.

  • Allocate to the departments that are specified in the scenario.

  • Post the journal.

Use the Recurring Journal to set up the vehicle repair and maintenance expense

  1. Select the Search for Page icon in the top-right corner of the page, enter recurring general journals, and then select the related link.

  2. In the Recurring Method field, select the drop-down list and then select F Fixed.

  3. In the Recurring Frequency field, enter 1M.

  4. In the Posting Date field, enter 03/23/19.

  5. In the Document No. field, enter VRM%3.

  6. In the Account Type field, select the drop-down list and select G/L Account.

  7. In the Account No. field, enter 10300.

  8. In the Amount field, enter -1,000.00.

  9. In the Expiration date field, enter 03/23/20.

Allocate to the departments that are specified in the scenario

  1. Select Line and then Allocations.

  2. In the Account No. field, enter 61200.

  3. Remove the values from the Gen. Posting Type, Gen. Bus. Posting Group, and Gen. Prod. Posting Group fields.

  4. In the Allocation % field, enter 18.

  5. Select Line and then Dimensions.

  6. In the Dimension Code field, enter DEPARTMENT.

  7. In the Dimension Value Code field, enter ADM.

  8. Select Close.

  9. Move to the next allocation line.

  10. In the Account No. field, enter 61200.

  11. Remove the values from the Gen. Posting Type, Gen. Bus. Posting Group, and Gen. Prod. Posting Group fields.

  12. In the Allocation % field, enter 58.

  13. Select Line and then Dimensions.

  14. In the Dimension Code field, enter DEPARTMENT.

  15. In the Dimension Value Code field, enter PROD.

  16. Select Close.

  17. Move to the next allocation line.

  18. In the Account No. field, enter 61200.

  19. Remove the values from the Gen. Posting Type, Gen. Bus. Posting Group, and Gen. Prod. Posting Group fields.

  20. In the Allocation % field, enter 24.

  21. Select Line and then Dimensions.

  22. In the Dimension Code field, enter DEPARTMENT.

  23. In the Dimension Value Code field, enter SALES.

  24. Select Close.

  25. Close the Allocations page.

Post the journal

  1. Select Post/Print and then Post.

  2. Select Yes to post the journal lines.

  3. Select OK.

  4. Close the Recurring General Journals page.