Recurring Bank Payments/Receipts

You can use the Recurring Transaction option to set up and process recurring bank payment / bank receipts. Regular or repeat orders are easily reprocessed through this option.

 

 

 

 

 

 

Steps

SET A RECUR SCHEDULE FOR THE BANK PAYMENT/RECEIPT

1. Select Recurring Transactions button under the Tools menu of the Banking module. A search list with different tabs is displayed.
   
   
2. Go to the Setup Recurring Transaction tab to view a list of open and closed bank payment / bank receipts that you can recur.
   
   
3. Select a bank receipt or bank payment transaction in the list to display the Recurring Transactions form.
   
   
   
   
4. Enter a Description for the recurring transaction.
   
   
5. Check the Active checkbox to set the recur schedule to active status.
   
   
6. Select the Interval of the recurrence. You can specify Recurrence Options for any interval you choose e.g. every first Monday of the month.
   
   
7. You can specify the Effectivity or leave it as indefinite.
   
   

PROCESS THE RECURRING TRANSACTIONS

1. Go to the Available Recurring Transactions tab. The recurring bank payment / bank receipt schedules list will display.
   
   
   
   
2. Select the recurring document in the list. The Process Recurring Transaction Wizard will be displayed.
   
   
3. Here are the steps to follow in the Process Recurring Transaction Wizard.

   Step 1
   Click Next button to start.

   
   
   

   Step 2
   Select the documents to process. The bank payment / bank receipt documents are grouped by payee. Click Next button to continue.

   
   
   

   Step 3
   The progress of processing the bank payment / bank receipts will follow. The processed bank payment / bank receipts are displayed. You may drill down on the Document Code to view the bank payment / bank receipt document. Click Next button to continue.

   Step 4
   Click Finish button to process and close the wizard. You may view the processed bank payment / bank receipts from Bank Payment > Find Bank Payment for bank payment records or bank receipts > Find Bank Receipts for bank receipt records.

CHANGE THE RECUR INTERVAL OF THE ORDER

1. Go to the Amend Recurring Transactions tab.
   
   
   
   
2. Select the recurring order transaction from the list and you will be brought back to the Recur Options window to change the schedule of the recurring order.

VIEW A HISTORY OF PROCESSED RECURRING TRANSACTIONS

Click on the History tab to view a history or recently-processed recurring transactions.