Bank Reconciliation > Recurring Bank Transactions > Generate Recurring Transaction

After you have set up a template for a recurring transaction, you can now generate bank transactions.

Note: The system has been designed to check the transactions generated; therefore, the system will not generate a transaction twice.

For example: If a disbursement is recorded monthly and you have entered a period covering two months, the two transactions will be generated from this template and posted on two different dates; if, however, on a later date, you enter a period covering three months which includes the first two months, the system will only generate one transaction from this template

To generate transactions for this bank template, perform the following steps:

1.Access the Generate Recurring Transaction function from the Transactions tab in the Bank Reconciliation module. The system will automatically display the Selection Criteria page.

2.In the Selection Criteria area, set up the transaction dates and banks of the affected bank templates to be generated in the system, enter and view values in the following fields:

oLast Generated Transaction Date (Through Date)

These field displays for your reference the date when you last generated recurring bank transactions. This is the date you entered when you last generated bank transactions from the template. This information serves as reference for you to know if you missed generating bank transactions for a certain month or cycle.

oGenerate Transaction Date (From/To)

Enter in this field the date range for which you want to generate recurring bank transactions. The system will generate bank transactions from any applicable templates for which one or more cycle(s) fall due within the date range you specify here.

Example: If you enter a 30-day date range and a template has a weekly bank disbursement cycle, four or five bank transactions will be generated from that template, depending on whether or not the first bank disbursement falls due within the first few days of the date range.

Notes:

•Be sure to enter a date range that will include the date of the Next Recurring Date field in the templates. If none of the next transaction dates qualifies for the date range given, the system will display a message informing you that no recurring bank transactions have been set up.

•You can post to future periods in the same fiscal year and you can post to any prior periods that have not yet been closed as long as the period is not restricted, therefore, dates can be entered across periods. Click the Calendar Lookup button to display the Calendar window to ascertain whether the period is restricted for posting.

oBank # (From/To)

Click the List box button to select either All, Range or List search options. Select Range to enter in the From/To fields the range of bank account numbers or List to enter a list of specific bank accounts for which you want to generate recurring bank transactions. Select All to display templates from all bank accounts.

3.The grid below the Selection Criteria area display all the recurring bank templates that are due in the selected period for the banks you specify. Mark the checkbox that corresponds to the recurring template that you want to generate a transaction. Mark the checkbox in the first column header to simultaneously select all the recurring templates transaction displayed in the grid.

4.Click the Generate button to generate the bank transactions. It will then display the Summary Page showing the number of transactions generated as well as the total receipt amount, total disbursement amount and total transfer amount generated.

You may proceed to print or preview a report showing the transactions generated. Click the Print or Preview button to display the BR Transaction Report.

You may also click the Selection Criteria Page again to generate a new set of bank transactions from the recurring bank templates.

Generate Recurring Transaction

Generate Recurring Transaction

See Also