Creating Recurring Vouchers

You can create recurring vouchers for payments you make to the same vendor every month. These recurring payments include such things as rent, lease payments, and insurance bills. You should generate recurring vouchers each month.

Caution: Your company must develop procedures to prevent multiple generations for the same month.

Open the Recurring Vouchers form.
Select Actions > New.
Specify the required information listed below.
For more information, see the field descriptions for the relevant fields.
- Vendor
- Voucher
- Distribution Date
- A/P Acct
- Reference
- Invoice Date
- Due Date
- Disc Date
Note: This field displays the default terms from the vendor's terms code.
If you are using Advanced Terms, the European algorithm is used to calculate the due date, based on all the elements of the terms. This algorithm is also used to recalculate the due date if any element of the terms has changed or if the invoice date has changed.
(Optional) Enter information in the other fields.
Save the record.
To distribute the recurring voucher, click Distribution.

After you enter the recurring voucher and create a distribution for it (either manually or system-generated), the distribution record remains on file. You do not need to distribute each month unless the purchase amount changes. If this amount changes, you must update the distribution record to reflect the new amount.

Examples of these two situations are rent and utility bills. Typically, the rent amount is the same each month and so it is not necessary to distribute it each month. While a utility bill is recurring, the currency amount usually is different each month, in which case it would be necessary to redistribute it.
After vouchers are created and distribution is set up, you can generate recurring vouchers at each payment cycle.