4-7-4 Recurring Credit Card Charges

If you have charges with a constant recurring amount such as a monthly bill for storage rental, you can set this up as a recurring credit card charge. As you enter a recurring credit charge record, you can choose to post it to an account such as Overhead Expense or Admin Expense. When you save the record, you can choose to post it then or later use the Post > Post All Pending Charges command.

Note: You cannot post in the Direct Expense, Equipment Expense, or WIP Posting account ranges.

When Sage 100 Contractor starts up and you are a member of the Recur. Trans. Group (security group for recurring transactions) in 7-1 Company Information, the program displays a message reminding you of transactions that are due. If you do not post immediately, the program reminds you to post the recurring transactions every time you launch the program if you are a member of the Recur. Trans. Group.

Note: If you do not have permission to post recurring transactions, you do not see the message.

Entering recurring credit card charges

Enter recurring credit card changes that are for a fixed amount and paid according to a specific billing cycle.

  1. Open 4-7-4 Recurring Credit Card Charges.

  2. In the Card issuer Account, click the drop-down arrow, and then select an account.

    Alternatively, you can click the Add/View Records button to make a new selection or view existing selections.

  3. In the Credit Card box, click the drop-down arrow, and then select a credit card.

    Alternatively, you can click the Add/View Records button to make a new selection or view existing selections.

  4. In the Payee Name box, enter the payee’s name.

  5. In the Description box, enter a description of the transaction.

  6. In the Account box, click the drop-down arrow and select an account.

    Alternatively, you can click Add/View Records button to make a new selection or view existing selections.

  7. In the Amount box, enter the amount of the transaction.

  8. In the Next Date box, type the next date in the billing cycle that you want to post the transaction.

  9. In the Cycle box, type the specific billing cycle.

    In Sage 100 Contractor, a cycle is represented by ##DY (a number of days), ##MO (a number of months), and ##TH (a specified day every month). You replace the ## symbols with the number of days or months, or the day of the month for the processing cycle. For example:

    • 30DY means due every 30 days.
    • 02MO means due every two months.

    • 25TH means due on the 25th day of each month. Sage 100 Contractor displays the 25th of the month following the invoice date when you enter a new invoice for a vendor

  10. Click Save.

Note: When you are prompted to post the transaction, you can post it immediately or you can post it later.