Recurring Payments are typically used for items that are automatically debited from a company bank account.
Recurring payments are setup using the Write Checks function and selecting the Recurring Payment option at the time of manually writing a check.
Follow the instructions below to setup a Recurring Payment.
1. You may enter a new Recurring Payment either from Accounts Payable/Write Checks or from the Vendor Explorer and right-clicking on the Payments tree option and selecting New Payment.
2. Once the Write Checks form is displayed, fill in the required and optional information. Select the Recurring Payment option located on the right side of the Write Checks form.
3. Pay From Bank Account - select the bank account from which the funds will be used for the check.
4. Select the Vendor radio button then select the Vendor to pay from the drop-down list.
5. Select the appropriate Branch from the drop-down list.
6. In Print Queue - if the check will be printed at a later time, select this option. If the check will be printed once the form is filled out, do not select this option.
7. In the center area of the check form, click on the Expense tab.
8. On the Expense Tab, select the G/L Account, Amount, Branch, Category in the grid area.
9. In the check area, type in the amount of the check. Verify the check number that defaulted is the correct check number; correct if necessary. If this is a payment that is automatically deducted from your bank account, instead of typing in a check number, your may enter something like "EFT 09-2017".
10. Once all information has been filled in, press the Print button located at the lower right of the Write Checks form. If this payment is automatically deducted from your bank account, press the Save button, then proceed to step 13 on the next page.
11. The check will display in Print Preview mode. When ready to send the check to the Printer, press the Print & Close button located on the AP Check Preview window.
12. A message will be displayed confirming the check printed correctly and should be marked as printed. Press the Yes button to confirm.
13. The Recurring Payment form will be displayed. Select the Frequency from the drop-down list. Enter a Description for the Recurring Payment. Enter or select the a date from the calendar for the Next Due Date. If an End Date is needed (typically used for loans) enter or select a date from the calendar.
14. When finished, press the Save button located at the lower right of the form.
A confirmation message will be displayed; click on the Yes button to confirm.
The Recurring Payment will now be displayed in the list of Recurring Items from the Accounts Payable menu.