The following steps will explain in detail how to add a new Recurring Transaction...
1.From the Main Menu, click on System, then Recurring Transactions. This will open the Recurring Transaction form where you may then click the New button to open the move the cursor to a new line where you can add a new recurring transaction. The cursor will be flashing at the top of the form in the Transaction Type field.
2.In the Transaction Type combo box field you can select from several different types of transactions. These include Invoice, Order, Customer Prepayment, Bill, Purchase Receipt, Purchase Orders Vendor Prepayment, General Journal, Write Check, Withdrawal, Deposit and Credit Card Charge.
3.In the Group combo box field allows you to to group transactions per Transaction Type.
4.The Process check box is used to select the transactions you want to process.
5.The Transaction Number combo box field will list all the available transactions for the selected transaction type selected. Select the transaction number you wish to have recur.
6.The Reference field is used to enter any reference you want to make to the Recurring transaction. This field is optional and is not required.
7.The Frequency combo box field will default to Monthly. This can be changed to Daily, Weekly, Biweekly, Semi-Monthly, Monthly, Bimonthly, Quarterly, Semi-Annually or Annually. This will be used to set how often a transaction recurs. When you choose a frequency the Reminder List form will check to see if any recurring transactions are due and display them.
Frequency Occurrences
Daily = 365
Weekly = 52
Biweekly = 26
Semi-Monthly = 24
Monthly = 12
Bimonthly = 6
Quarterly = 4
Semi-Annually = 2
Annually = 1
8.The Last Process field will automatically be filled in with today's date. Every time you process the selected transaction the Last Process date will be updated with that date.
9.The Next Process field will automatically be filled based on the Frequency entered. This can be changed to whatever date you want the transaction to recur again.
10.The Active check box will automatically be enabled. This can be used to enable or disable a transaction from recurring.
11.The Due field will show whether the transaction is due to be processed or not. It is the Next Due date that is used as the basis whether the transaction becomes due. If the Next Process date is later than the Business Date, then this field will show as Yes however if it is a date before the Business Date, then it will show as No.
For Prepaid Expenses, Due field will work differently. Due field will show as Yes if the prepaid expense has not yet been fully allocated or expensed. Once fully allocated/expensed, that's the time it will show No. See the following topics: Auto-Time Spread for AP Prepay, One-time expense allocation for Prepaid Expense, or Lump Sum Reversal for Prepaid Expense.
12.The Group combo box will list all the available groups for the selected transaction type. Select the group you wish to have recur.
13.The Day of Month combo box will list day 1 - 31. This is used
14.The Day of Month will be defaulted to the day based on the date of creation of the original transaction. If the day used in the transaction is any date within 1-28, this will show the same day used. If the day selected is within 29-31, this will show Last Day.
15.The Start Date by default will show the same date shown in the Next Process field. You may set this to any date if you need to.
16.The End Date by default will show the same date shown in the Next Process field. You may set this to any date you want the recurring transaction to end.
17.The Iterations by default will show 1. This tells you that you will have to process this recurring transaction one more time. You may change this to any number depending on how many times you will have to recur the transaction. Changing the number of this field will simultaneously change the End Date.
Auto-Time Spread for AP Prepay
One-time expense allocation for Prepaid Expense
Lump Sum Reversal for Prepaid Expense