Question

Which activities can you perform with a recurring journal entry?

Note: There are 2 correct answers to this question

1) Create monthly postings on any date of a month.
2) Determine the number of postings.
3) Obtain an overview of related future postings.
4) Set rules to distribute amounts to be posted.

Answer 1

Recurring journal entries allow you to create monthly postings on any chosen date and to determine the number of postings by establishing the frequency and duration.

Step-by-step explanation:

With a recurring journal entry, you can perform various activities that streamline periodic accounting processes. The two correct answers to the question are:

• Create monthly postings on any date of a month. This allows for consistent and automatic posting of recurring financial transactions.
• Determine the number of postings by specifying the frequency and duration of the recurring journal entry, ensuring accurate and timely record keeping over the defined period.

The other options, obtaining an overview of related future postings and setting rules to distribute amounts to be posted, while potentially part of wider accounting software functionality, are not specifically activities you can perform with a recurring journal entry itself.