A/R Recurring Receivables
Accounts Receivable > Daily > Accounts Receivable Management > Recurring Receivables
Recurring Receivables
To enter A/R invoices or receipts to be recorded multiple times consistently, the Recurring Receivables functionality can automate the posting of these receivables – either a recurring invoice or recurring receipt. The menu option is Daily > Accounts Receivable Management > Recurring Receivables. Click New to create a new recurring item, or double-click on an existing item to edit.
Menu Buttons
Post: Posts all listed recurring A/R items that are checked in the checkbox under the To Be Posted first column.
New: This function creates a new recurring A/R item. A dialogue screen displays all applicable details and a schedule for the new recurring item.
Create Batch: This option allows you to create a receivable batch by selecting one or more recurring batches (by checking the batch lines) and clicking Create Batch. You can see and/or post the batch under Daily > A/R Invoice Batch List.
Edit: Allows editing of the current highlighted row. Rows can also be edited by double-clicking on the row itself.
Delete: Will delete the highlighted recurring receivable after confirming a warning message.
Log: Shows all past posting activity for the highlighted recurring receivables.
New/Edit Recurring AR
ID: Any numbering sequence desired or a more descriptive ID with alpha and/or numeric characters can be used.
Description: This describes the nature of the recurring AR so that future access to this item is easily identifiable.
Customer: This field is not editable here but will show the customer associated with this recurring invoice once the invoice or receipt has been entered under the Transaction button.
Type: The type can either be Receipt or Invoice, which will drive the screen that appears when you click the Transaction button in the next section. In this section, either receipts or invoices can be made recurring.
Detail: The Transaction button will take you to the invoice or receipt entry screen, depending on the type chosen. These will be the typical invoice or receipt entry screens, with regular fields to enter similar to individual invoice or receipt entries. See A/R Invoice Entry or A/R Receipt Entry for information.
This screen will differ from the regular entry screen in a few ways. It will include an Invoice Day field instead of Invoice Date, which will allow for a consistent day of the month for the date of this invoice. The Due Date field will allow for a specified day of the month to be the recurring due date, although this can be specified in the Customer record as well. Once all necessary fields are completed, the Save button will attach the new invoice or receipt to the recurring ID.
Settings
Post to: This allows for posting to the current period or the prior period. When resetting the period to a new month from the Month End menu, if the Current Period is chosen in this recurring setting, it will post to the new period. If “Prior Period” is chosen here, it will post to the closing period.
Next post date: This displays the suggested date on which this entry should be posted. It is auto-updated based on the frequency and last date the entry was posted. The next post date is a reminder only and does not trigger anything in the system when that date is reached.
Frequency: The Frequency dropdown will choose how often the entry will come up for posting. For example, monthly postings will come up once per month during the reset period. Single-use will allow for individual manual posting.
Nbr times posted: Displays the number of times this entry has been posted.
Specify the number of times to post: This allows you to specify the number of times to post an entry.
Inactivate when the number of times is reached: This deletes the recurring entry so that no invoices/receipts will be posted in the future. It does not delete any entries that have already been posted, but only the schedule for future invoices/receipts.
Click save when finished entering all applicable fields of the recurring entry.
Posting a Recurring Receivable: When you reset the accounting period every month, recurring entries will default to post. You can check or uncheck those you want to post.
Create Batch: This allows you to create an invoice or receipt batch by selecting one or more recurring batches (by checking the batch lines) and clicking Create Batch. You can see the batch/es under Daily > A/R Invoice Batch List or Daily > Receipt Batches.
If you wish to manually post recurring entries, go to Daily > Recurring Receivables. Entries will default to post if the next post date is today or in the past. You may click on Log at any time to see when the selected entry was last posted. Once the log is displayed, you may double-click on a line to see the entry detail. To manually post one or more receivable batches, click on the checkbox/es on the lines you wish to post, set the accounting period and date, and click Post.