You’ve been asking for the ability to set up recurring journal entries - and now we’re excited to say, you can!
With the ability to set up journal entries that record on a recurring basis, you won’t have to worry about repeatedly recording multiple transactions manually every month - saving you time, ensuring accuracy, and preventing missing entries on your books.
Common scenarios where a recurring journal entry might be used are:
- An association that transfers funds from an operating bank account to a reserve bank account on a regular cadence in accordance with their annual budget.
- A rental property manager who moves available cash off the books into a liability holding account to pay for taxes and another annual expenses on a later date.
You will find recurring journal entries on the recurring transactions page.
You can set up a journal entry with the following frequencies:
- Every two weeks
- Every two months
- Every six months
- One time (helpful when scheduling a future transaction to automatically post to the ledger)
- You must have two line items (two accounts) with at least one debit and one credit.
- Total debits and total credits must match
- Each journal entry can only be tied to a single property (single set of books)
When you enter a next date in the past, you will be prompted to confirm they would like to backdate and post all***(see note below) entries that should have already posted to the ledger immediately.
***We will be limiting the number of backdated transactions added at one time to 500.
Clicking save & add another will default the next date to match the date on the previous entry
In order to create, edit or delete recurring journal entries you will need to have your permissions set to allow you to edit or delete recurring transactions.