Recurring Accounts Payable

The recurring accounts payable option fully automates the accounts payable process. This topic covers the Recurring option, for more information on AP functionality, see Accounts Payable.

To Schedule Recurring Accounts Payable

1. Once you have created a new accounts payable item, select the Recurring option.
2. Click Set Properties.
3. Select the Recurring Schedule:

Daily

Daily Recurrence Schedule

• Every number of days will create accounts payable on that number of days. i.e. 1 would create an entry every day, 8 would create an entry every 8 days. 
• Every weekday will create accounts payable Monday to Friday. 

Recurrence Range

• Start date – defaults from accounts payable screen and determines the first occurrence - Today's date plus one day. 
• Continuous – accounts payable will be created until end is defined.
• Continue for number of occurrences – accounts payable will be created for set number of occurrences.
• End by specific date – accounts payable will be created until date is reached.
• If end by date = the prescribed occurrence of a journal entry, the entry will be created.  For example, end by date = July 21, 2006  the accounts payable will occur on July 21.  If end by date = July 23, 2006 then the last accounts payable will also occur on July 21 since July 23 is not a weekday.

Automatically Post

• If checked, accounts payable will post during a night process automatically (12:40 AM).
• If unchecked, journal entry will be created but will not post. 

Weekly

Weekly Recurrence Schedule

• Every # of week(s) on a specific day (or days) will create accounts payable on that day every designated number of weeks. 
• Example – every 1 week on Tuesday will create the accounts payable every Tuesday.
• Example – every 2 weeks on Tuesday will create the accounts payable every other Tuesday. 

Recurrence Range

• Start date – defaults from accounts payable screen and determines the first occurrence.
• Continuous – accounts payable will be created until end is defined.
• Continue for number  of occurrences – accounts payable will be created for set number of occurrences.
• Example – 24 occurrences will result in 24 weeks of Tuesday accounts payable.

• End by specific date – accounts payable will be created until date is reached. 

Automatically Post

• If checked, accounts payable will post during a night process automatically(12:40 AM).
• If unchecked, accounts payable will be created but will not post. 

Monthly

Monthly Recurrence Schedule

• Day ## of every # month(s) – specific date the number of months designated.
• Example – Day 15 of every 1 month will create the journal entry on the 15th of each month beginning in August.
• Example – Day 15 of every 3 months will create the accounts payable on the 15th of every 3rd month.  In this example, with 7/21/2005 as start date, the first accounts payable will be August with subsequent accounts payables occurring in November, February 2006, May 2006, August 2006 and so on. 
• To effect a different month, “Start” could be changed to later month to begin the series in that month. 

Recurrence Range

• Start date – defaults from accounts payable screen and determines the first occurrence.
• Continuous – accounts payable will be created until end is defined.
• Continue for number  of occurrences – accounts payable will be created for set number of occurrences. 
• End by specific date – accounts payable will be created until date is reached. 

Automatically Post

• If checked, accounts payable will post during a night process automatically (12:40 AM).
• If unchecked, accounts payable will be created but will not post. 

Yearly

Yearly Recurrence Schedule

• Only option is “Occurs” with the specific day designated.

Recurrence Range

• Start date – defaults from accounts payable screen and determines the first occurrence.
• Defaults from “Date Booked” but may be changed based on rules for using “Date Booked” in a accounts payable. 
• Today’s date is the default. 

Date may not be in a closed or locked period

• Continuous – accounts payable will be created until end is defined.
• Continue for number of occurrences – accounts payable will be created for set number of occurrences. 
• End by specific date – accounts payable will be created until date is reached. 

Automatically Post

• If checked, accounts payable will post during a night process automatically (12:40 AM).
• If unchecked, accounts payable will be created but will not post. 

3. Click OK.

• Frequency - establishes schedule
• Start Date - establishes the point that the entry will begin
• Expiration - establishes expiration of recurring entity
• Auto Post - if checked, reflects that the accounts payable will post automatically. Otherwise, the accounts payable will be created based on rules and will be available to post, edit or delete.

• Transaction Summary - Saves the entry and returns to Journal Entry transaction list view.  Recurring entries must be in balance, clicking Transaction Summary while not in balance will prompt a message notifying you to balance the journal entry.
•  Print - Prints accounts payable line items.

Note: Post is not available for a recurring entry.

• Abort - Deletes the entry.
• Save - Saves the entry, remaining in the accounts payable screen.
• Add Allocation - Displays available allocations for entry, see Using Allocations.
• Add Row - Adds general ledger line items.

Related Topics

Accounts Payable

Accounts Payable Auto Processing

Using Allocations