Accounting Ideas

Recurring journals

Automatically posting journals each month that are going to repeat (set rules and dates same as recurring invoices), eg depreciation, straight line loan interest, unwinding a prepayment etc. Xero has this, very useful.

  • Guest
  • Jul 9 2021
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  • Guest commented
    10 Aug, 2021 10:04am

    This is essential for a services business. Revenue and costs have to be spread over each account period, so the recurring journal manages accruals and pre-payments perfectly. Depreciation is the other one. Just realised I need to set up all my depreciation manually. What a pain.