You may ask what is the difference between “Recurring Journal” and “Standard Journal” in Microsoft Dynamics NAV?
The following table will give you an idea difference between these two journals.
Recurring Journal are useful for transactions that are posted frequently with few or no changes to G/L, customer, vendor, bank and fixed Asset.
In a recurring journal, users enter only the variable data, such as posting date, amounts, and accounts to be used for posting. After posting a recurring journal, new journal lines are created containing the posting date for the next recurring period. The posting date recurrence is defined in the Recurring Frequency field.
Standard Journal give user the advantage of storing transactions details and reusing it multiple times at later dates.
For example, monthly utilities payments. User will manually enter the details for the first payment of the current month and save the journals lines entries for later use as shown below in Figure 1.
On the following month, part of the data will remain the same such as G/L Account, bank and dimension code (i.e. Department, Project). If the user has saved the initial monthly payment as a standard journal, then they can reuse it to create the draft of next monthly payment.
User invokes the Get Standard Journal function, a list of codes is appeared to the user so that they can decide which standard journal to restore and copy to the Journal Line. Once the draft lines are created, they can be updated with the current month information as shown below in Figure 2.
The standard journal function is available in General Journal and Item Journal. Click Here if you’re interested to know more about how to use Standard Journal in Microsoft Dynamics NAV.
This post was written by Katrine Ng, Solution Specialist at Evolution Business Systems.
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