Set up a repeating journal
Set up a repeating journal in Xero if you want to automate a series of recurring journal entries. You can insert placeholders into your repeating journal for values which depend on the date your repeating journal is created, for example, 'Consulting fees for [Month-1]'.
About repeating journals
- You're able to backdate your repeating journals to the first day of your organization's previous financial year.
- You can edit your repeating journals, but be aware if you roll back the first journal date, Xero creates a new set of journals in addition to your existing ones.
- View all the repeating journals set up for your organization from the 'Repeating' tab on the Manual Journals screen.
Before you start
Before you create your repeating journal decide:
How often you want Xero to record a repeating journal. For example, you might want to choose weekly, monthly or every 3 months. If you choose a month-end date, Xero records your repeating journals at the end of each month. For example, if you set up a repeating monthly journal starting June 30, Xero records the next journal in the series at July 31, not July 30.
If you want Xero to post each journal or save each one as a draft for you to approve. You may want to post your journals if the journal amount is the same for each journal. For example, select 'Post' if you're spreading out an annual prepaid expense. Or, you may want to save each journal as a draft if it's likely you will need to change the journal amount each time, for example, if you're accruing month-end interest expense.
How to create a repeating journal
- If you have the Advisor user role, on the Advisor menu select Manual Journals. Otherwise, in the Reports menu select All Reports, under Accounting click Journal Report, then click Manual Journals.
- Click New Repeating Journal.
- Choose the dates and time period for your repeating journal.
Select Save as Draft or Post.If you select Post, be aware that you won't be able to delete your repeating journals in bulk. That is, if you need to delete your repeating journals, you will need to void them one by one.
Enter information into the manual journal fields.
- (Optional) Add placeholders to your Narration and Description fields
- Click Save.
Add placeholders to your Narration and Description fields
Placeholders are named markers where content will appear when a repeating journal is generated. The value of the placeholder will depend on the date your repeating journal is generated. You can have more than one placeholder in a field.
Place your cursor in the Narration or Description field to see the Insert Placeholder link. Click the link to select the placeholder option.
You can add or subtract within the placeholder to change the placeholder value. For example, [Month-1] will display the previous month to the repeating journal month.
Click Preview placeholders to see how your placeholders will appear in your journals.