The Recurring Payable functionality allows you to mass create Payables (Vendor Invoices) that recur on a monthly, quarterly, semi-annual or annual basis.

Features include:

  • The ability to create a single Recurring Payable, often used for the initial vendor invoice received.
  • The ability to create Recurring Payables in batch.

 

Create a Recurring Payable

  1. Navigate to Accounting Home and under Cash Out, click Recurring Payables.

  2. On the next page, click the New Recurring Payable button to set up the Recurring Payable with Payable Lines.

  3. Click the Create Payable button.
    • This will advance the Next Account Payable Date based on the frequency chosen.
    • The Last Account Payable Date will be updated with the value that was in the Next Account Payable Date field prior to clicking the Create Account Payable button. This provides an audit trail of when the Recurring Payable was last billed and when it is supposed to be billed next.

 

Batch-create Payable Records

Batch Recurring Payables are used for mass creating Payables on a recurring basis.

  1. Navigate to the Recurring Payable list view.
    • Setting up your list view with the appropriate criteria is essential to creating a streamlined process.
    • Most customers use the Next Billing Date as the main criteria for the list view filter as well as the Active field when creating their list view.
    • For example, if your company pays bills monthly you would want to create a list view that shows all the recurring payable contracts for which the Next Payable Date is less than 30 days from today.
  2. Once you have the saved your list view, simply click the Create Payable button.
  3. An intermediate screen will allow you to confirm the accounting period.
    • The next account payable date will be updated on all the contracts. You are able to create 200 Payables at one time.

 

ASU-banner-4.jpg

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.