Understanding the Recurring Vouchers Process
Concept
If you need to make a payment for the same amount on a regular basis, such as monthly or quarterly, you can enter a recurring voucher.
Procedure
In this topic, you will review the Recurring Vouchers process.
| Step | Action |
|---|---|
| When you enter a recurring transaction, you indicate the total number of invoices or vouchers that you want the system to create and the interval for them. For example, if you bill or make lease payments every month for one year, you can set up a recurring invoice or voucher for 12 payments with a monthly frequency. |
| Step | Action |
|---|---|
| Then, instead of entering an invoice or voucher each month, you run a recycle program that creates a new transaction from the original. The system assigns a new document number and batch number to the new transaction and reduces the number of payments by one. You continue to recycle and create new transactions until one payment remains. |
| Step | Action |
|---|---|
| You must use the standard entry program to enter recurring transactions. In addition to the standard transaction information, you complete the Frequency and Number of Payments fields.
This indicates to the system that the transaction is recurring. To cancel a recurring transaction, you remove the values from these fields. |
|
| In summary, you can enter a recurring voucher for a supplier who sends you invoices for the same amount on a regular basis. | |
| You have reviewed the Recurring Vouchers process.
End of Procedure. |
