Creating Recurring Vouchers

You can create recurring vouchers for payments you make to the same vendor every month. These recurring payments includes rent, lease payments, and insurance bills. You must generate recurring vouchers each month.

Caution:

Your company must develop procedures to prevent multiple generations for the same month.

Open the Recurring Vouchers form.
Select Actions > New .
On the Main tab, specify the vendor, voucher, distribution date, invoice date, due date, and discount date.

See the help content for each of these fields.

Note: This field displays the default terms from the vendor's terms code.
If you are using Advanced Terms, the European algorithm is used to calculate the due date, based on all the elements of the terms. This algorithm is also used to recalculate the due date if any element of the terms has changed or if the invoice date has changed.
On the Account and Tax Codes tab, specify the A/P account and reference.

See the help content for each of these fields.
Optionally, specify the information in the other fields.
Save the record.
To distribute the recurring voucher, in the Distribution section, specify the information needed.

On the classic form, click Distribution.

See Distributing Recurring Vouchers.
To automatically generate distribution, select Line Actions (…) > Distribution Generation.

After you specify the recurring voucher and create a distribution either manually or system-generated, the distribution record remains on file. You do not need to distribute each month unless the purchase amount changes. If this amount changes, you must update the distribution record to reflect the new amount.

Examples of these two situations are rent and utility bills. Typically, the rent amount is the same each month and so it is not necessary to distribute it each month. While a utility bill is recurring, the currency amount usually is different each month, in which case it would be necessary to redistribute it.
After vouchers are created and distribution is set up, you can generate recurring vouchers at each payment cycle.

To generate recurring vouchers, select Line Actions (…) > Recurring Voucher Generation.

See Generating Recurring Vouchers.