The recurring account payable functionality allows you to mass create account payables (AKA: Vendor Invoices) that recur on a monthly, quarterly, semi-annual or annual basis. Features include the following:
  1. The ability to create a single recurring account payable - Often used for the initial vendor invoice received.
  2. The ability to create recurring accounts payable in batch.
 
Summary of steps for Setting up a recurring AP and creating a single AP record:
  1. From the Accounting Home, Navigate to the Recurring Account Payable Tab.
  2. Click the New Recurring Account Payable button to setup the Recurring Account Payable with Account Payable Lines.
  3. Click the "Create Account Payable" button
    • This will advance the "Next Account Payable Date" based on the frequency chosen.
    • Also the "Last Account Payable Date" will be updated with the value that was in the "Next Account Payable Date" field prior to clicking the "Create Account Payable" button. This provides an audit trail of when the recurring AP was last billed and when it is supposed to be billed next.
Summary of steps for batch creation of AP records:
  1. Navigate to the Recurring Accounts Payable list view.
    • Setting up your list view with the appropriate criteria is essential to have a streamlined process.
    • Most customers use the "Next Billing Date" as the main criteria for the list view filter as well as the "Active" field when creating their list view.
    • For example if your company bills monthly you would want to create a list view that shows all the recurring account payable contracts that have the "Next Account Payable Date" less than 30 days out from today.
  2. Once you have the appropriate list view simply click the Create Accounts Payable button.
  3. An intermediate screen will allow you to confirm the accounting period.
    • The next account payable date will be updated on all the contracts. You are able to bill 200 contracts at one time.

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