Bank Reconciliation > Recurring Bank Transactions > Recurring Bank Transfers > Set Up Recurring Transfer Template

The Information Page allows you to set up the target bank account, transaction code, required settings and general information about this bank transaction. You must enter the appropriate values in all fields; otherwise, the transaction will not be saved.

Perform the following steps on this page:

1.Enter the appropriate values in the following fields:

oTarget Bank #

Enter in this field the bank account to which you are making the bank transfer. Once a valid bank account is entered in the Target Bank #, the corresponding bank name, bank account number and account description will be displayed in the Target Bank Details area.

Note: The target bank may have a currency which may not necessarily be the same as the source bank currency. The system will automatically convert the amount transferred from the source bank account to the currency of the target bank account once the transaction is generated from this template.

oTransaction Code

Enter in this field the transaction code to identify the nature of this bank transfer. The transaction codes that will be accepted in this field are those transaction code records that are assigned "Intra-bank Transfers" or "Inter-bank Transfers" transaction types as defined in its Transaction Code Maintenance Record. Alternatively, you may click on the List box button to display the available Transaction Codes; then, select the option from the list.

oDescription

For your reference, enter in this field a brief explanation of the bank transfer transaction. The system will not allow you to save this transaction if you have not entered a value in this field.

oReference

Enter in this field any information that will help you identify the transaction such as document number or transaction type. This field is optional.

oTransfer Amount

Enter in the Transfer Amount field the amount of the bank transfer. If the bank entered in the Source Bank # field is a foreign currency bank, the adjacent field displays the bank's Currency code.

2.Select the appropriate value for these fields:

oStatus

Click the List box button to select the appropriate status for this recurring transaction. You may select either "Active" or "Inactive" status. Note that you cannot generate transactions from inactive recurring receipt templates.

oRecurring Frequency

Select in this field the frequency of occurrence for the recurring transaction. Click the List box button; then, choose to generate this bank transaction template either Daily, Weekly, Bi-Weekly, Semi-Monthly, Monthly, Bi-Monthly, Quarterly, Semi-Annually, or Annually.

3.Enter values in the following fields:

oNumber of Cycles

Enter in this field the number of times you allow generation of transactions from this template. AccountMate automatically updates this field when you update the End Recur. Date field.

oNext Recurring Date

Enter in this field the next date when you need to generate a transaction from this template. AccountMate automatically updates this date by one cycle each time you generate a transaction from this template.

Note: The next recurrence date only serves as reminder as to when you need to generate a transaction from this template again. AccountMate will not automatically generate a transaction when that date comes. You must access the Generate Recurring Transaction function to generate the recurring transaction.

oLast Day

AccountMate will automatically mark the Last Day checkbox if the next recurrence date you entered was the the last day of any given month and that the recurring frequency is either of the following: Monthly, Bi-Monthly, Quarterly, Semi-Annually, or Annually. A marked Last Day checkbox indicates that the succeeding next recurrence dates will fall on the last day and not the same day of the respective month in the recurring cycle.

oEnding Recurring Date

Enter in this field the date when you want to stop generating transactions from this template. The end recurrence date must be greater than or equal to the next recurrence date. AccountMate automatically updates this field when you update the Number of Cycles field.

oLast Recurring Date

This read-only field displays the date when you last generated a transaction from this template. This field is blank until a transaction is generated from this template.

4.Mark or unmark the Post to GL checkbox. Marking this checkbox configures AccountMate to transfer the transaction to the General Ledger module during period-end closing or transferring of data to GL. This checkbox is enabled only if the Prompt Before Posting option was selected in the BR Module Setup function; otherwise, this checkbox is inaccessible and marked by default.

Information Page

Information Page

See Also