Do you have multiple AP checks and/or GL journal entries that need to be entered each month? Use recurring entries instead of manually entering them every time!
Accounts Payable Software (AP)
Recurring entries can be set up in AP and then added (posted) to the invoice file in a monthly batch. Rent, leases, parking, and mortgage payments are examples of recurring entries.
To add a recurring entry in AP
Once recurring entries have been added to AP, they can quickly be posted using Post Recurring Entries. All recurring entries are posted to the invoice file unless the recurring entry is on “hold”. The word “AUTO” (automatic) is posted to the Voucher field for each invoice created from a recurring entry.
To post recurring entries in AP
General Ledger Software (GL)
Recurring entries can be set up in GL and then added (posted) to the journal file in a monthly batch. Examples of recurring entries include depreciation, amortization, notes payable, fixed investment income, rent, monthly lease payments, etc.
To add a recurring entry in GL
Once recurring entries have been added to GL, they can quickly be posted using Post Recurring Entries. Post Recurring Entries adds a batch of journal entries to the journal entry data file based on the information in the recurring entry file.
To post recurring entries in GL
Save time by posting all of your recurring entries at once instead of reentering the same information every month!
The Journal Report is a flexible and option-rich report that can be run by transaction date or by entry date.
To run the Journal Report by Entry Date
When it comes to tracking your advances, Tabs3 Software provides the tools you need to accurately manage your advanced client costs from start to finish.
See how the integration between Tabs3 Billing, Accounts Payable, and General Ledger makes it easy to enter and track your advances. The Tracking Advanced Client Costs in Tabs3 Software video covers how to set up integration, enter an invoice, and track your advances using the Advanced Client Costs Report.
Watch this five-minute video here:
Training Videos can be accessed at Tabs3.com/videos. You can also access the videos while in the software by selecting Help | Training Videos.
Whether your firm works with Tabs3 General Ledger journal entries manually or integrates with Tabs3 Billing and Tabs3 Accounts Payable, it’s important to understand how journal entries are stored and tracked in General Ledger.
The Working with Journal Entries video walks you through the basics of entering journal records in General Ledger and provides insight on how to track journal activity using various resources.
Watch this three-minute video here:
Training Videos can be accessed at Tabs3.com/videos. You can also access the videos while in the software by selecting Help | Training Videos.
Tabs3 General Ledger Software (GLS) is a general ledger accounting program that is based on a double-entry accounting system. Chart of accounts and financial statement formats can be defined, allowing you to use your current chart of accounts. The availability of multiple departments allows you to create reports based on certain departments or the firm as a whole. Journal entries track debits and credits. Optionally create budgets for each expense account, and compare budget and actual amounts from year to year.
GLS offers bank and credit card reconciliation, printable deposit slips, summarized or detailed reports to help track your financial data, and more. If you have journal entries that must be made monthly, you can set up recurring entries to easily post a batch of entries once a month in a single process.
GLS can be used as a stand-alone ledger program for any business, or it can be combined with other Tabs3 software for full integration. Journal entries can be submitted to GLS through Tabs3 Billing, Accounts Payable, Trust Accounting, and also Peninsula Software’s PenSoft® Payroll software. Additionally, a standard input format is included, providing the ability to import journal entries from other software.
For more information regarding Tabs3 General Ledger Software, contact your local reseller or our Sales Department at (402) 419-2200.