Creating Prepaid Expenses Journals

In order to create prepaid expenses journals there must be at least one prepaid expenses schedule definition active in your org. For more information, see Prepaid Expenses Schedule Definitions .

To create prepaid expenses journals:

1. Click the Prepaid Expenses tab. The Prepaid Expenses Lines grid displays all prepaid expense lines belonging to posted payable invoices for the selected company without prepaid expenses journals created.
2. Select the prepaid expense lines that you want to create prepaid expenses journals for. You can select multiple prepaid expense lines to consolidate them into one journals proposal, or you can select individual lines.
3. Select the interval between the journals you want to create. To define additional periods see Creating Prepaid Expenses Schedule Definitions.
4. Use the Start Date and End Date fields to select the date range for the prepaid expenses journals you want to create. When you select a prepaid expense line item, the start and end date default to the start date and end date of the prepaid expense line. If you select multiple prepaid expense lines with different start date and end dates, then the start and end date are left blank. You can modify the default values if needed.
Note: You must have a financial calendar defined in your org for the full date range selected. If you do not have a financial calendar defined for the full date range selected, an error is created when you attempt to generate a journals proposal.
5. Select the general ledger account that you want to post the prepaid expenses journals to.
6. [Optional] Select the dimensions that you want to use. Any dimensions that are selected here are set on the prepaid expenses journals.
7. Click Add to Journals Proposal. The button is inactive until you have selected prepaid expense lines and populated the fields outlined above.
8. [Optional] Repeat steps two to seven to create additional proposals.
9. The Journals Proposal grid is now displayed. The grid displays the details of the journals to be created, grouped under their source prepaid expense lines.
   
10. If you want, you can remove a group of journal lines from the journal proposal using . You might want to do this if, for example, you select the wrong prepaid expenses definition or the wrong payable invoice expense line. When you click , this removes the proposed journal lines from the proposal and the payable expense line is moved back to the expenses line grid.
11. Click Generate Prepaid Expenses Journals. This runs a batch process to generate the journals. Click View Progress to view the progress of the batch process. You receive an email notification when the creation of the prepaid expenses journals is complete.
12. [Optional] Navigate to the Journals tab to review the journals created. These have the status "In Progress" and must be posted manually. If you want, you can add journal descriptions or journal line descriptions before you post the journals.

Tip:

To help you identify prepaid expenses journals, you can use the Prepaid Expense Journal type field to create a custom list view. For more information on creating custom list views, see the Salesforce Help.

If a prepaid expense is in a different currency to your company's home currency, the exchange rate used on the original payable invoice is applied to the prepaid expenses journals override currency rate. For more information, see About Currency Overrides on Journals.