Contents - Index

Recurring Transactions

If doing the initial set up, create Recurring Transactions last.  
  • Recurring transactions are for payments and deposits that occur regularly, and for which the amount is fixed.  These can include mortgages, rents.  
  • Recurring transactions can be used for receipts and payments that are paid automatically, or by electronic transfer.  Do not use recurring transactions as a substitute for using cheques/payments if you need to record details and are using the Invoice accounting basis.
  • Check recurring transactions regularly.  From the Banking menu. 
  • Do not set up transfers between bank accounts as recurring transactions.  Recurring transactions are to pay for something, or are receipts and must have a ledger account.
  • If the ledger account has been set up to split transactions between business and domestic, the split is carried out.

    Setting up recurring transactions

    Within the bank maintenance form, select the Recurring Transaction tab.  Ledger and bank accounts have to exist.  If you have set up suppliers they may be used.  Otherwise any supplier identification is a "Miscellaneous supplier".

    Adding recurring transactions

    Editing recurring transactions

    Running recurring transactions