Hi ,
I gone through the help , but I am not able to understand the use.
Could u explain the use of these Recurring methods
-
Balance
-
Reversing Fixed
Could u explain about these with a practical example.
Recurring journals are described in CH4 in Navision Financial Series 1 manual (which should be on inst CD)
Balance:
The balance of the account on the line is allocated among the accounts specified for the line in the Allocations window. As a result, the balance on the account
on the line is set to zero. Remember to fill in the Allocation % field in the Allocations window.
Usage : Periodic allocation of an expense account between departments. Periodic allocation of overheads posted to a single overhead account to several specific overhead accounts. Inter-company expense allocations.
Reversing Fixed
The amount on the journal line remains after posting, and a balancing entry is posted on the following day.
Usage : Monthly accrual of contract cleaning invoice not received until following month.
Thanks ,
The information what thrown , the information what u thrown is from help.
Again I am telling that I gone through that help , I could not understand , so that ‘s y I am expecting the practical example if it possible
Actually it was from Manual I mentioned in my previous post [;)]
Balance - you make a RJ for distributing some amount between different GL Accs or one GL Acc, but different Dimensions (or something alike).
So, one side then is these distribution targets, the other - some account #XXXX, where you gather together all (expenses) to distribute. When RJ is posted, Navision looks what amount sits on that #XXXX (Balance on that account) and distributes according to what is set up in RJ, thus setting #XXXX balance to zero.
Reversing Fixed
Usually is posted on the last day of month. It makes TWO postings - one with Posting Date as set, another on the NEXT DAY, and it reverses back the first postings.
For example, you need operational P/L statement, but you don’t know your phone bill yet - it will arrive on 10-15 day next month only, but you know it will be approx $500. So, you make RJ with these evaluated $500, on next day it reverses back and you can wait for actual bill with exact amount, but you have approx value to include in your operational P/L statement.
THIS wasn’t from Manual - I hope now you will get the idea of how & when these RJ methods are used [:D]
Thanks Modris,
Modris wrote :
Balance - you make a RJ for distributing some amount between different GL Accs or one GL Acc, but different Dimensions (or something alike).
So, one side then is these distribution targets, the other - some account #XXXX, where you gather together all (expenses) to distribute. When RJ is posted, Navision looks what amount sits on that #XXXX (Balance on that account) and distributes according to what is set up in RJ, thus setting #XXXX balance to zero.
Modris u had given a good example, but still i am not able to understand , so if u feel free could u throw example with some values and accoutns.
then i will pass that entries.
please…
Hansika,
Maybe its easier to give what you have in mind…e.g a scenario you want to set up with Reccuring Journals…
Thanks,
Nikolas wrote :
Maybe its easier to give what you have in mind…
do u what i have in my mind , that how can u use this recurring method . if any body throw with practical example with some values, it is helpful to me.
i am expecting a cool answer from u .
An electricity bill comes in, it is posted to account 99001. In teh business you have departmental dimensions, Production, HR, Sales, Stores, Slackers and Management. You distribute the electricity based upon the following proportions 35%, 5%, 15%, 25%, 15% and 5%. This helps you do this.
Thanks Adam roue,
Using fixed recurring method u can solve the problem what u mentioned above .
if Fixed , Balance are same purpose , then what is the difference .
throw some more light on this…
’
Dear Hansika,
It might just be your language! Or maybe just that you cannot read English. I don’t know. But I have now been contacted by two members who are complaining over your posts.
But please learn about what this community is about AND WHAT IT IS NOT ABOUT!
The Dynamics User Group and the the other community sites are websites where the Dynamics users can meet each other and learn from each other.
But it is not a place where you can go to learn the product if you don’t know it. It’s not a place where you can EXPECT to get anything for free. But if you ask politely then you can sometimes be lucky to get a reply that will guide you in the right direction, so that YOU CAN SOLVE YOUR PROBLEM YOURSELF.
I have, before posting this message, been going over a lot of your recent post. And I must say that I agree with the complainers. My only reply to you, although I usually don’t like to say it that way, is:
You need to get some basic training in both Navision and Accounting, before you start working on any implementations.
Hi Hanskia
Modris has written a clear explanation, I am not sure what part you do not understand - they are clearly different from the description. I am not an accountant but it would seem to me the following:
Balance - takes an amount and allocated it across numerous other accounts.
Fixed - is a temporary journal accruing for an expected liability that will reverse out at the start of the next month so that when the actual transaction comes in the net affect in the new month is zero as the liability is taken in the month required.
Dear Hansika,
Be grateful that you at least got a book answer from Ivans. I am an accountant and new to NAV and I will give you examples.
Balance - you make a RJ for distributing some amount between different GL Accs or one GL Acc, but different Dimensions (or something alike).
So, one side then is these distribution targets, the other - some account #XXXX, where you gather together all (expenses) to distribute. When RJ is posted, Navision looks what amount sits on that #XXXX (Balance on that account) and distributes according to what is set up in RJ, thus setting #XXXX balance to zero.
An example for this type would be prepaid expenses asset like Insurance of assets. One can create a RJ and distribute the prepaid expenses for the future months evenly till it gets exhausted.
Reversing Fixed
Usually is posted on the last day of month. It makes TWO postings - one with Posting Date as set, another on the NEXT DAY, and it reverses back the first postings.
For example, you need operational P/L statement, but you don’t know your phone bill yet - it will arrive on 10-15 day next month only, but you know it will be approx $500. So, you make RJ with these evaluated $500, on next day it reverses back and you can wait for actual bill with exact amount, but you have approx value to include in your operational P/L statement.
Say your Corp has a telephone bill which would come in mail on the 15th of December. This bill relates to November telephone expenses. You close your books on 4th Dec for Nov. It’s a accrued liability and create a journal entry as Reversing fixed with out the GST.
Shanti Sam