Set up recurring bank transactions to record repeated fixed income or expenses. For example, bank loan payments, rent payments, recurring bank transfers, and donations.

From the Cash Manager module:

1. Click the Maintenance menu and select 4. Automatic Transactions.

The Auto Transaction Maintenance window is displayed.

2. Click Add.The Automatic Transaction Entry window is displayed.

3. Enter the required details:

a. Bank Account: The default Bank Account is 0601.00.000. To change the Bank Account either:

i. Enter the required account number and then press [Tab].

ii. Or, Enter part of the account name and press [Tab].  The General Ledger Search window is displayed. Highlight the required account and click Okay.

To permanently change the default Bank Account please refer to Change default Bank G.L. Account.
To add a new Bank Account to the Chart of Accounts please refer to Add Bank G.L. Account in Chart of Accounts.

b. Auto Code: Enter a 4 character code that is specific to the transaction. For example, NABL for NAB Bank Loan.

c. Description: Enter a name for the transaction.

d. Payment: Leave the dropdown on Payment if the transaction is an expense, or click the dropdown and select Receipt if the transaction is income.

e. Date Last Run: Defaults to today's date. Change this date if required.

f. Period: Click the dropdown to select how often the transaction will reoccur:

  • 1. Monthly
  • 2. 4 Weekly
  • 3. 3 Weekly
  • 4. Fortnightly
  • 5. Weekly

g. Check Run to activate the transaction.

h. If the Period selected is Monthly, enter the Day of the Month the transaction reoccurs on.

4. Click Add.

The General Ledger Account Entry window is displayed.

5. Enter the details:

a. Enter the Account Number.

i. Enter the General Ledger Account Number and then press [Tab].

ii. Or, enter part of the General Ledger Account Description and press [Tab]. The General Ledger Search Window is displayed. Highlight the required account and click Okay.

The Account Name field is populated with the name of the selected account.

b. By default, the Calc GST checkbox is checked, if the transactions does not contain GST uncheck this options.

c. Enter the Total (Inc GST) amount for the transaction.

d. Enter/review the GST amount.

6. Click Okay to save.

The General Ledger Account Entry window is re-displayed.

7. Click Cancel to close.

The Automatic Transaction Entry is re-displayed with the transactions details.

8. Click Okay to save and close the Automatic Transaction Entry window.

The Auto Transaction Maintenance window is displayed.

9. Click Cancel to close.

Please refer to Process recurring automatic transactions to process the transaction/s and calculate the current Cash Net Position.