Examples of recurring transactions

You can set up recurring transactions for identical amounts that you post on a regular basis, such as rent or expense allocations.

Recurring transactions for regular charges

Transaction

Description

Recurring Payments

Regular payments such as rents, vehicle insurance, janitorial services, and subscriptions or dues.

Prepaid Expenses

Payments you need to expense over several periods, rather than a single period, such as a quarterly vehicle insurance payment that you need to expense monthly.

Create a recurring transaction to post the monthly expense rate, rather than the quarterly rate.

Depreciation

You can depreciate items such as office equipment on a monthly basis.

After obtaining the annual depreciated amount from your company accountant, calculate the monthly depreciation. Then set up a transaction to post the monthly depreciation. You can depreciate the value of equipment used on a job in the 8-6 Equipment Depreciation window.

 

Note: You cannot set up recurring transactions for direct expenses, equipment expenses, inventory, or service receivables.