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Accounts, Regular Payments

The regular payments facility simply automates the creation and processing of invoices and journals. It is of no use for one-off invoices, such as the lump sum purchase of a car, but would be ideal for the purchase of that same car if bought by HP, in which case it could repeat the processing of the 36 (or so) identical monthly repayment invoices. The example below shows a regular monthly payment set-up for the support of a Durell computer system.

Create A Regular Payment

To create a new regular payment starting from the “Accounts Menu”…

  • Click the “Regular” button
  • Click the “Starburst” or new record button
  • Select the address set (e.g. “Suppliers”)
  • Use the search buttons to locate the “Name” to invoice (e.g. “DURELL SOFTWARE”, as shown above)
  • Use the “Transaction” section to specify the details of the invoice or journal…

  • Enter the type of transaction (e.g. PI - Purchase invoice)
  • Enter the “Who” or “Policyholder”, which in most cases will be the same as the “Name”, which you can repeat via the “=” button
  • Enter the “Item” or “Policy Number” (e.g. “COMPUTER SUPPORT”)
  • Optionally, if you have one, enter a reference for the transaction
  • Enter the nominal account to use (e.g. “COMP – Computer, Purchases”)
  • Enter the sum to allocate to this nominal
  • Enter which VAT rate to use
  • Enter the sum to allocate to VAT
  • Use the “Payment Details” section to describe the regular payment record, along with its start and end dates…

  • Enter a description for this regular payment, typically similar to the “Item” or “Policy Number” line
  • Enter the first date for one of these transactions (e.g. 28/03/2005)
  • Enter the period at which the transaction should be repeated (e.g. every “1 Month”)
  • Enter the date after which no further instances of this transaction should be processed
  • Enter whether or not this regular payment record should be deleted after the final instalment
  • Optionally use the “Cashbook” section if you’d like the invoice to be automatically processed through the Cashbook…

  • Select the method by which the payment will be settled (e.g. “Standing Order (SO)”)
  • Select which bank account the sum should go into or come out of (e.g. “BNK1 (Office A/C)”)
  • Select the cashing-up method (e.g. “Send to bank immediately”)
  • Have completed the details you should then click the red “Save” or “Floppy Disk” button to save the record. An example regular payment for a journal is given below. Note that the “Name” for a journal is irrelevant, as are any Cashbook details, as journals do not need to go through the Cashbook.

    Running Your Regular Payments

    To run your regular payments, starting from the “Accounts Menu”…

  • Click the “Regular” button
  • Click the “Signpost” or new record button
  • Select “Post ALL regular payments to accounts”, where upon you’ll see a dialogue like that below
  • Click “OK” to proceed
  • You can repeat this process as often or infrequently as you like, without ill effect. For example, if you’ve just run the regular payments till 28/07/2005, and 5 minutes later someone else repeats this, then nothing new will be sent to the accounts, because the automatically revised “Last posted” dates (top right of the Regular Payments screen) of all the transactions processed the first time round will prevent them from being re-processed. Conversely, if you forget to run the routine for four months, then when you do finally run it the “Last posted” date for each monthly transaction will only increment a month at a time, after which the Regular Payment facility will check if it needs to be re-processed, and thus all four months’ transactions will be generated for each record.