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Recurring Items

Recurring entries are a great way to save time, you can use them for any payments that you make regularly, such as direct debits and standing orders. Once you've set up the recurring entries you can post them at the same time which means you don't have to enter these transactions out in full each time.

You can enter recurring entries for daily, weekly, monthly or quarterly time periods and you can set up customer, supplier, nominal or bank transactions.

Note: You must enter recurring journals as pairs of balancing debits and credits. If you enter just one side of the journal it results in an error message on posting the recurring entry, to advise that there is an imbalance in debits and credits.

To set up a recurring entryOpen this section

  1. Bank > Recurring Items > Add > Complete the Add / Edit Recurring Entry window as follows:

    Recurring Entry From / To

    Bank A/C From or To

    Choose the required bank account.

    Nominal Code, Customer A/C or Supplier A/C

    The Transaction Type determines what appears in this box. Choose the required nominal code, customer account or supplier account.
    Recurring Entry Details

    Transaction Type

    Choose the required transaction.

    Note: If you choose a journal credit or debit you must set up the opposite journal with the same amount and posting frequency.

    Transaction Ref

    Enter the reference.

    Transaction Details

    Enter the details.

    Note: This option does not appear if it is a customer or supplier recurring entry.

    Department

    Choose the required department.
    Posting Frequency

    Every

    Enter the number for how often you want the recurring entry to be posted and choose if this is days, weeks or months.

    For example, if you enter 1 and choose Months this posts once every month.

    Start Date

    Enter the date you want the recurring entry to start from.

    Next Posting Date

    This automatically calculates the date for when this recurring entry next posts.

    Last Posted

    Shows the date for when the recurring entry was last posted. This is blank if it is a new recurring entry.

    Total Required Postings

    Enter the total number of postings you want to make.

    Finish Date

    This calculates automatically from the start date, posting frequency and the total required postings.

    Suspend Posting

    Select this option if you want to temporarily suspend the recurring entry.
    Posting Amounts

    Net Amount or Amount

    Enter the amount of the recurring entry. If it is a bank recurring entry enter the net value.

    Tax Code

    Choose the required tax code.

    Note: This doesn't appear on customer or supplier recurring entries or bank transfers.

    VAT

    This calculates automatically from the Net amount and Tax Code, however you can amend this value if required.

    Note: This only appears on bank transactions.
  2. Click OK.

To process the recurring entriesOpen this section

  1. Bank > Recurring Items > Process.
  2. In Show Due Entries Up To, enter the required date.
  3. Click Post.

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