Examples of recurring transactions
Setting up recurring journal transactions
Setting up automatic reminders to post recurring transactions
You can set up recurring transactions for identical amounts that you post on a regular basis, such as rent or expense allocations.
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.