Bank Reconciliation > Recurring Bank Transactions

A typical business operation may require you to regularly generate repetitive bank transactions with a constant amount for a common purpose. The system helps save time recording these bank transactions when they must be prepared on a daily, weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semi-annual or annual schedule. You can set up and generate disbursement, receipt and bank transfer transactions that occur frequently for a constant amount. It saves you time and has the flexibility to allow you to use a wide variety of transaction cycles

Example: When you obtain a bank loan to finance your expansion or capital expenditure for a period of five years, and the loan agreement with the bank stipulates a monthly fund transfer for the principal and interest payments, you must generate monthly recurring transfers and check disbursements for a period of five years.

In AccountMate, the following are the features available for handling recurring bank transactions:

•You can set up and amend templates for your recurring receipts using the Recurring Receipt Setup function.

•You can set up and amend templates for your recurring disbursements using the Recurring Disbursement Setup function.

•You can set up and amend templates for your recurring bank fund transfers using the Recurring Bank Transfer Setup function.

•You can generate recurring bank transactions from recurring bank transaction templates using the Generate Recurring Transaction function.