Many people have transactions such as rent or depreciation that they enter every month on the same date for the same amount.  There is no reason to enter the transactions into Sage 50/Peachtree by hand every time. You can easily create a recurring transaction that will do it for you.

First let’s talk about what kind of transactions are good candidates for recurring transactions:

  • It needs to be something that happens on a regular schedule.  It can be weekly, bi-weekly, every 4 weeks, monthly, per fiscal period (for those who don’t use regular calendar months), quarterly, twice a year, or yearly.  If you want to enter the same transaction repeatedly, but not on a fixed schedule, you need a memorized transaction instead of recurring.
  • The amounts, GL accounts, customer/vendor, etc should be the same each time, although they can be edited later.
  • Only sales invoices (AR), purchase invoices (AP), payments and general journal entries can be set to recur.

A monthly journal entry for depreciation, an AP invoice for office rent, or a payment for an auto-draft of insurance premiums would all work well as recurring transactions.

Now let’s walk through the process of setting one up.

  • Start by entering the transaction as you normally would, with the exception of one field, which I’ll come back to.
  • Once you have entered all of the information, look for the Copy button in the toolbar at the top of the window.  Click the down arrow next to it and choose Create Recurring.  If you are entering a Payment (including Write Checks) or if you are using version 2011 or older, just click the Recur button.  The Create Recurring Transaction window will open.
  • Use the drop down list to choose how often you want the transaction to occur.
  • At Date Range the date you used on your transaction will automatically be entered as the First transaction date.  You can change it if you need to.  For monthly or longer frequencies, this date is the date on which it will recur in each period.  For shorter frequencies, such as weekly, this date determines the day of the week on which it will recur.  Then you have 3 choices for the ending date:
    End On lets you choose a specific ending date.
    End after __ occurrences lets you choose how many entries you want in the series, including this one.
    No end date will continue the transaction until you stop it.
  • Click OK and the transactions will be posted.  If the end date is beyond the end of your last open year, the remaining transactions will automatically be created during the next year end close

Now back to the one field that I mentioned is an exception to how you normally enter transactions.  That field is Reference/Invoice Number/Check Number, depending on which type of transaction you are entering.

  • General Journal Entry.  You can enter a reference or leave it blank.  If you enter one, the same reference will be used for all journal entries in the series.
  • Invoices (both AR and AP). You can enter an invoice number or leave it blank.  If you enter an invoice number it will automatically be incremented on each recurrence.  Or leave it blank if you want assign the invoice number later.
  • Payments or Write Checks.  Check number must be left blank

With all recurring transactions you can edit or delete them later.  When you save your changes (or delete) Sage 50 will ask you if you want to update just this transaction or this one and all remaining transactions.

 

Many people have transactions such as rent or depreciation that they enter every month on the same date for the same amount.  There is no reason to enter the transactions into Sage 50/Peachtree by hand every time. You can easily create a recurring transaction that will do it for you.

First let’s talk about what kind of transactions are good candidates for recurring transactions:

  • It needs to be something that happens on a regular schedule.  It can be weekly, bi-weekly, every 4 weeks, monthly, per fiscal period (for those who don’t use regular calendar months), quarterly, twice a year, or yearly.  If you want to enter the same transaction repeatedly, but not on a fixed schedule, you need a memorized transaction instead of recurring.
  • The amounts, GL accounts, customer/vendor, etc should be the same each time, although they can be edited later.
  • Only sales invoices (AR), purchase invoices (AP), payments and general journal entries can be set to recur.

A monthly journal entry for depreciation, an AP invoice for office rent, or a payment for an auto-draft of insurance premiums would all work well as recurring transactions.

Now let’s walk through the process of setting one up.

  • Start by entering the transaction as you normally would, with the exception of one field, which I’ll come back to.
  • Once you have entered all of the information, look for the Copy button in the toolbar at the top of the window.  Click the down arrow next to it and choose Create Recurring.  If you are entering a Payment (including Write Checks) or if you are using version 2011 or older, just click the Recur button.  The Create Recurring Transaction window will open.
  • Use the drop down list to choose how often you want the transaction to occur.
  • At Date Range the date you used on your transaction will automatically be entered as the First transaction date.  You can change it if you need to.  For monthly or longer frequencies, this date is the date on which it will recur in each period.  For shorter frequencies, such as weekly, this date determines the day of the week on which it will recur.  Then you have 3 choices for the ending date:
    End On lets you choose a specific ending date.
    End after ___ occurrences lets you choose how many entries you want in the series, including this one.
    No end date will continue the transaction until you stop it.
  • Click OK and the transactions will be posted.  If the end date is beyond the end of your last open year, the remaining transactions will automatically be created during the next year end close

Now back to the one field that I mentioned is an exception to how you normally enter transactions.  That field is Reference/Invoice Number/Check Number, depending on which type of transaction you are entering.

  • General Journal Entry.  You can enter a reference or leave it blank.  If you enter one, the same reference will be used for all journal entries in the series.
  • Invoices (both AR and AP). You can enter an invoice number or leave it blank.  If you enter an invoice number it will automatically be incremented on each recurrance.  Or leave it blank if you want assign the invoice number later.
  • Payments or Write Checks.  Check number must be left blank

With all recurring transactions you can edit or delete them later.  When you save your changes (or delete) Sage 50 will ask you if you want to update just this transaction or this one and all remaining transactions.

 


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