Recurring Transactions

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Use the Recurring command on the Action menu associated with the Bank Account form to set up recurring entries for nominal receipts and payments, sales receipts and refunds or purchase payments and refunds. You can create recurring entries for direct debits, standing orders, BACS receipts and so on. You post the recurring entries you set up with the Recurring command by using the Post Recurring command on the Utilities menu. You can also post them when you use the Reconcile command. If more than one sales or purchase ledger is linked to the Cashbook company, you must select the company from which the customer or supplier accounts will be read for processing.

For foreign currency recurring entries, the exchange rate used is the one prevailing at the time the posting is made.

Header Entries

Box

Description

Input By

The name of the person maintaining the recurring transaction record. The user name as defined on the User Profiles form in the System module is used as a default entry. You can select a different user name from the list.

Type

An option that determines the transaction type you want to enter. You can select one of the following from a list: Nominal Payment, Nominal Receipt, Sales Refund, Sales Receipt, Purchase Payment or Purchase Refund.

Description

A description of the recurring transaction. The description is used to help identify the nature of the recurring transaction and will be included on reports and views where appropriate.

Frequency

An option that determines the frequency with which the transaction is to recur. The default is Months. You can select 'Months', 'Weeks' or 'Days' from a list:

Every

The number of months, weeks and days to elapse between postings. For example, an entry of '1' indicates that the posting is to occur every month, week or day according to the frequency chosen; an entry of '3' indicates every three months, weeks or days, and so on.

Times to Post

The number of times the posting is to be made. The Post Recurring command compares this value with the entry in the Times Posted box. No more postings are made once the transaction has been posted the number of times indicated here.

Next Posting

The date for the next recurring posting. The application updates this when you use the Post Recurring command. The transaction date for the next recurring entry is based on the next posting date, not the date on which the recurring entries are processed.

VAT Analysis

For home currency nominal ledger transactions only, an option that determines whether the transaction is subject to VAT analysis. That is, whether it is included in the VAT return.

You can use the Action menu to:

Detail Entries

The boxes on this form depends on the type of recurring entry that is being created (nominal receipts or payments, sales receipts or refunds, or purchase payments or refund).

Nominal Payments

Box

Description

Rem

An option that determines whether a remittance advice is to be printed for the transaction.

Chq

An option that determines whether a cheque is to be printed for the transaction.

BACS

An option that determines whether the nominal payment is to be processed as a BACS payment by your bank using the banking format selected in the BACS Software list on the Cashbook - Utilities - Set Options form or the Cashbook - Utilities - Set Options - Additional BACS Options form.

This is enabled for home currency bank accounts, and for Euro bank accounts if the Use for SEPA Payments option is selected for the account.

Payee

A reference that identifies the payee.

Payee names are defined using the Cashbook - Maintenance - Payee Names form.

Bank Account Details

The sort code, account number and bank reference for the BACS transaction. If the Use for SEPA Payments option is selected for the bank account the BIC and IBAN boxes are enabled. BIC and IBAN codes are used for 'SEPA CT' payment files instead of the sort code and account numbers. What's SEPA?

The codes default to those entered on the payee name record selected in the Payee list box.