Was trying to generate Journal in Recurring Journal Formula. it gives the above error saying *YOU DO NOT HAVE ACCESS PRIVILEGE TO ANY OPERATING UNIT* PLEASE CHECK OF PROFILE OPTION MO: SECURITY PROFILE INCLUDES ANY OPERATING UNIT*

The other method works fine for me but should i got lots of Journal to generate it will be nice to know how to fix the MO:SECURITY OR PROFILE OPTION PROBLEMS. ANY HELP PLEASE

This has been discussed various times before as well. Just create a dummy operating unit and assign it to the Site level and to your GL responsibility using the profile option MO: Operating Unit.
Recurring journal and mass allocation feature expects that you have assigned an operating unit to the GL. If you are not planning to use subledger then simply create a dummy OU and asign it. You can view first few AP videos to find out how to create OU.

Thanks it worked fine.