What is recurring entry document in SAP FI - Financial Accounting?

SAP Term: recurring entry document

• Component: FI

• Component Name: Financial Accounting

• Description: A document containing the fixed data for every recurring posting for example the posting key, account, and amount. You set up recurring entry documents for business transactions that occur on a regular basis, such as rental payments and insurance premiums. These documents are the basis on which the SAP System creates actual accounting documents, and do not specifically lead to transaction figures being updated.

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• Key Concepts: 
  A recurring entry document is a type of document used in SAP Financial Accounting (FI) to record transactions that occur on a regular basis. It is used to save time and effort by automating the process of entering the same data multiple times. The document can be set up to repeat itself at regular intervals, such as monthly or quarterly. 
  
  How to use it: 
  To create a recurring entry document, go to the SAP menu and select Financial Accounting > General Ledger > Document > Recurring Entry > Create. Enter the necessary information, such as the document type, company code, and fiscal year. Then enter the details of the transaction, such as the account numbers and amounts. Finally, specify when the document should be repeated and save it. 
  
  Tips & Tricks: 
  When creating a recurring entry document, make sure to double-check all of the information entered to ensure accuracy. Also, be sure to specify when the document should be repeated so that it is not forgotten or missed. 
  
  Related Information: 
  For more information on recurring entry documents in SAP FI, please refer to the SAP Help Portal or contact your local SAP consultant.