difference between account assignment model and recurring entry?

[Former Member]

difference between account assignment model and recurring entry?

[Former Member]

Hi

Account Assignment model is a template used for document creation in which default values are provided for the posting of a business transaction.

An account assignment model may contain any number of G/L line items, and can be changed or enhanced as needed. Unlike sample documents, account assignment models may contain incomplete G/L line items.

A recurring entry is when an expense is distributed thru out the year or for selected period. You create the entry once and execute it during period end closing. Posting happens to related accounts only on execution in the period concerned.

Thanks

kamala

[Former Member]

thank you very much ....

but both has to be run manually right .

i think both are different option to post entry when needed.

without hassle of entering all the details again.

please correct me if i am wrong.

anyway thanks for the reply it was helpful.

[Former Member]

Hi

Account assignmen is used when needed as a template. But once you set recurring entries, it has to be executed in F.14 during period end closing or else the related cost will not reflect in financial statement.

Thanks

kamala

[Former Member]

thanks

[Former Member]

Closed