Chapter 2: File Maintenance
Option 7Recurring Payments
You can use this function to perform file maintenance on Recurring Payment records.
If your company makes regular payments for products or services such as rent, maintenance fees, or monthly retainers, you can automatically generate these payments. When recurring payments are generated, the system creates an invoice entry record for each recurring payment transaction, eliminating the need to manually enter an invoice.
When you use this function, a record of all entries will be printed. For additions, all new field contents are printed; for deletions, the deleted record’s contents are shown; for changes, both old field contents and new field contents are shown; and in all cases, the User ID, date and time are printed.
The screen shown below presents information about Recurring Payments.
Use this file to maintain the Recurring Payments to be generated.
Initial Setup Recurring Payments screen
When the key value for a particular record is requested, you can review all the records in the file by selecting the Scan option. The records will be presented on an “Access” screen, and you will be allowed to scan the available data until you find the record you want. Then, position the cursor by that record and press ENTER; the record will be displayed for editing.
Note that the Audit Info option is available at the bottom of this screen. When this option is invoked, the Audit Information overlay appears and displays the date the record was created and who created it, as well as the date the record was last modified and who modified it. Press the END key or the RETURN key to clear the overlay from your screen. The information displayed in the Audit Information overlay is system-supplied and non-modifiable.
Data items for the preceding screen are described below:
- Payment
Positive number, up to 4 digits Scan by this field (access key)
The system automatically displays the next available number beginning with ‘1’ to identify the recurring payment. You may enter your own unique number or accept the default.
- Vendor
Upper case, up to 8 characters Numbers only Scan available
Supply a valid vendor number from the Vendors file. The system displays the vendor’s name so that you can verify your entry.
- Description
Alphanumeric, up to 30 characters Required
Describe this recurring entry.
- Generation Months
Alphanumeric, up to 13 characters Letters only Default JFMAMJASONDt
Each of these letters represents the name of a month. If you want an invoice generated every month do not change the default value. If you are using a 13-month fiscal year, a ‘t’ appears after the last month to identify the thirteenth month.
If you want an invoice generated every month do not change the default value. Delete the characters of all months during which you do not want to generate a recurring payment. For example, if you want to generate a recurring payment every “odd” month, remove the even month characters. The field would appear: J M M J S N.
- Day To Invoice
Positive number, up to 2 digits
Specify the day to be used as the invoice date. Depending on the entry in the 13 Month Basis? field, the Day to Invoice specifies either the day of the period or the day of the month.
If 13 Month Basis? is ‘Y’ this day pertains to a 28-day accounting period. For example, suppose you entered a ‘2’ in this field, and you are currently in the second accounting period of the year. Assuming that your fiscal year begins January 1, the ‘2’ would represent January 30th, since this date is the second day in the accounting period.
If 13 Month Basis? is ‘N’, this day pertains to a calendar month. For example, suppose you entered a ‘2’ in this field, and you are currently in February. The ‘2’ would represent February 2nd, since this date is the second day in the calendar month.
- 13 Month Basis?
Y or N Default N Required
Indicate how you want the system to base the invoice date. This field words in conjunction with the Day to Invoice field on this screen. If your system is on a 12-month fiscal year (see Parameters file), this field is automatically set to ‘N’ and cannot be changed. If your system is on a 13-period fiscal year, enter either:
U: The recurring payment generation is based on a 13-period fiscal year. If set to ‘Y’, the Day to Invoice field corresponds to a day in the 28-day accounting period.
- N
- The recurring payment generation is based on a 12-month fiscal year. If set to ‘N’, the Day to Invoice filed corresponds to a day in the calendar month.
- Start Month
Upper case, up to 2 characters Letters and numbers only Valid: 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, EY Required
In ADD mode, this field will automatically be saved from on record to the next.
Specify the calendar month of the first month that you want to generate this recurring entry.
- Start Year
Positive number, up to 2 digits Carries forward in ADD mode
Specify the calendar year of the first time you want to generate this recurring entry.
- Amount
Number, up to 7 digits and 2 decimals
Enter the amount of the payment.
- Limit
Number, up to 9 digits and 2 decimals
Specify the maximum amount to be generated by this recurring payment. A payment will not be generated once the Paid to Date field reaches this limit. If left blank, this recurring payment is unlimited.
If the generation of a given month’s invoice will exceed the limit, a prorated invoice and line items are generated. For example , if the limit is $10,000, the ‘To Date Amount’ is $9,600, and the ‘Amount’ is $600, the last invoice generated will be $400.
- Liability Account
Upper case, up to 12 characters Required Scan available
The system displays the liability account for the vendor from the vendors file. If the General Ledger application is part of the system, this number must be on file in the Chart of Accounts file. The system displays the corresponding description so that you can verify your entry.
- Terms Code
Positive number, up to 3 digits and 2 decimals
The retention amount is calculated from the Retention % defined in the Vendors file. You may change this amount.
- To Date Amount
Number, up to 9 digits and 2 decimals
During Live Operations, the system accumulates the total of recurring entries generated for this particular definition. Invoices will be generated for this recurring payment until the ‘To Date Amount’ reaches the amount in the ‘Limit’ field.
During Initial Setup, you may enter the amount that has already been paid for this recurring payment.
The entered data is validated. During validation, including access to other files, conditions may be found which cause messages to be displayed. Errors (E), Warnings (W), and Messages (M) that may result are shown below:
Press ENTER to display system-supplied information and then press ENTER again to continue to the next screen.
Select Next Record to go to the next Recurring Payments record.
At this screen, the use of the MODE keys - ADD, DEL, CHG, or INQ - pertain to those records in the Recurring Payments file.
The screen shown below presents information about Recurring Payment Line Items.
This file defines invoice line items to be automatically generated within the invoice transaction file every month when recurring payments are generated.
Initial Setup Recurring Payments Line Items screen
When the key value for a particular record is requested, you can review all the records in the file by selecting the Scan option. The records will be presented on an “Access” screen, and you will be allowed to scan the available data until you find the record you want. Then, position the cursor by that record and press ENTER; the record will be displayed for editing.
Data items for the preceding screen are described below:
- Line Item Number
Positive number, up to 4 digits
Supply the line item number. You may enter line items in any sequence. The system automatically starts with ‘1’ and sorts them into numerical order when you complete the screen entry.
- Offset Account
Upper case, up to 12 characters Required Scan available
Enter the offset (expense) account to debit for this line item. The offset account for the vendor is displayed from the Vendors file, if one was entered. You may either accept this default or enter another offset account. If General Ledger is part of your system this account number must be open file in the General Ledger Chart of Accounts file. The system displays the corresponding account description so that you may verify your entry.
- Amount
Number, up to 7 digits and 2 decimals
Supply the amount to be debited or credited to the offset account for this recurring payment line item. A credit entry requires a minus sign.
- Description
Alphanumeric, up to 30 characters
Describe this line item. This description will print on various reports throughout Accounts Payable.
- Subsidiary Type
Letters only
Enter an upper case alphanumeric filed, up to 2 characters in length.
The system displays the subsidiary to which this line item will post.
If General Ledger is not part of your system, you may enter any value in this field. The transactions posted to various subsidiary types and codes can be printed on the Subsidiary Cores GL Distributions report on the Monthly Processing menu.
- Subsidiary Code
Upper case, up to 16 characters
Supply a subsidiary code if this line item is to post to a subsidiary costing application. If the sub type is ‘GL’, it is assumed the transaction will flow through to General Subsidiary. You cannot enter a subsidiary code if the subsidiary type is blank; conversely, if the subsidiary type is not blank you must enter a subsidiary code.
The transactions posted with the various subsidiary types and codes can be viewed on the Subsidiary Code GL Distributions report on the Monthly Processing menu.
The entered data is validated. During validation, including access to other files, conditions may be found which cause messages to be displayed. Errors (E), Warnings (W), and Messages (M) that may result are shown below:
Press ENTER to display system-supplied information and then press ENTER again to save the information on this screen.
Select Previous Image to go back to the Recurring Payments screen. Select Next Record to go to the Next Recurring Entries Line Items record. Select End to go to the next Recurring Payments record.
At this screen, the use of the MODE keys - ADD, DEL, CHG, or INQ - pertain to those records in the Recurring Entries Line Items file.