How to Setup Recurring Transactions (Entry) in Sage 50

Recurring transactions in Sage 50 Accounting are actions you take repeatedly, such as paying a rent or utility bill. These transactions may be saved and retrieved at any time. Because you don’t have to repeatedly enter the same information, using recurring transactions saves time and helps you avoid making mistakes.

Recalling Recurring Transactions

The program displays all the data you have saved when you recall a transaction but does not update any accounts until you click Process. Before processing the transaction, you still have the option to make changes. By creating a Recurring Transactions report, you may also create a list of all your recurring transactions.

For almost any transaction type, you can use recurring transactions including

• Item Assembly
• Purchase and Sales Invoices
• Time Slips
• General Journal Entries
• Payroll
• Inventory Adjustments

Only general journal entries can be set up as recurring transactions when using consolidated companies. Accountant: Sage 50 Premium There are a few combinations of line items that are not possible with recurring transactions if you use FIFO inventory costing (Sage 50 Premium Accounting).

Table of Recurring Transaction Limitation with FIFO

Transaction	Quantity	Unit Cost	Amount
Purchase – All	0	N/A	N/A
Purchase – All	Positive	N/A	Negative
Purchase – All	Negative	N/A	Positive
Inventory Adjustment	0	N/A	N/A
Inventory Adjustment	Positive	N/A	Negative
Item Assembly	0	N/A	N/A
Item Assembly	Negative	N/A	N/A
Item Assembly	N/A	Negative	N/A
Item Assembly	N/A	N/A	Negative

How to Setup Recurring Transaction in Sage 50

Many people enter transactions like rent or depreciation on the same day and for the same amount each month. There is no reason for manually entering transactions into Sage 50/Peachtree each time. You may easily automate the process by setting up recurring transactions.

Let’s start out by discussing the types of transactions that are good candidates for recurring transactions:

• It must be something that takes place on a regular basis. For individuals who don’t use standard calendar months, it can be weekly, biweekly, every four weeks, monthly, every fiscal period, quarterly, twice a year, or annually. You need a memorized transaction rather than a recurring one if you wish to enter the same transaction repeatedly but not on a fixed schedule.
• While they can be edited later, the sums, GL accounts, customers, vendors, etc. should always be the same.
• Only payments and general journal entries can be made to recur, neither sales invoices (AR) nor purchase invoices (AP).

Recurring transactions would include a monthly journal entry for depreciation, an AP invoice for office rent, or a payment for an auto-draft of insurance premiums. Let’s now start with how to set one up step by step.

• With one field, which I’ll discuss later, enter the transaction as you normally would begin.
• Search for the Copy button in the toolbar at the top of the window once you have entered all the necessary information. Choose to Create Recurring by clicking the downward pointing arrow next to it. Simply click the Recur button if you are entering a Payment (including Write Checks) or if you are using version 2011 or an earlier version. The window for creating recurring transactions will appear.
• Select how often you want the transaction to occur using the drop-down menu.
• The date you specified for your transaction will be automatically inserted as the First transaction date when you go to Date Range. You are free to edit it if necessary. This date is the day on which it will recur each period for frequencies that are monthly or longer. This date specifies the day of the week on which it will reoccur for shorter frequencies, such as weekly. Next, you have three options for the ending date:
  • You can provide a precise ending date using End On.
  • You can decide how many installments, including this one, you want in the series by using the end after _ occurrences option.
  • Until you stop the transaction, no end date will be used.
• The transactions will be posted after you click OK. The remaining transactions will automatically be made during the following year’s year-end close if the end date extends past the conclusion of your previous open year.

Returning to the one field I stated as an exception to the standard transaction entry method Depending on the type of transaction you are entering, that field is either Reference, Invoice Number, or Check Number.

• General Journal Entry. A reference can be entered or left blank. If you include one, it will be used as the reference for all subsequent entries in the journal.
• Invoices (both AR and AP). You can leave it blank or add an invoice number. Any invoice number you enter will be automatically increased with each occurrence. If you want to assign the invoice number later, then you can leave it blank.
• Write checks or make payments. A blank check number is required.

You can change or eliminate any recurring transactions at a later time. Sage 50 will ask you if you want to update just this transaction or this one and all remaining transactions when you save your changes (or delete them).

How to Create a Recurring Entry (Recurring Transaction) in Sage 50

You can set up repeated transactions for upcoming dates or accounting periods using Sage 50. A recurring transaction is always subject to change or deletion. You may recur future payments, purchases, to-do lists, and journal entries.

• First, open an existing transaction or start a new one.
• Choose to create recurring by clicking the drop-down arrow next to the Copy button.
• Select the Recur button if there isn’t a Copy button on the transaction screen.
• Fill out the dialogue box with the following information:
  • How frequently do you want this transaction to recur? Choose the time period for the transaction to repeat from the drop-down selection. Weekly, Bi-weekly, Every Four Weeks, Monthly, Per Period, Quarterly, Twice a Year, and annually are all options. The default setting is monthly.

Note: The transactions won’t happen on the first (for example July 1) of every accounting period if you have 13 accounting periods set up for the fiscal year and you create a number of recurring transactions each period on the date of the first. These transactions shall be made on the first day of each Period, irrespective of what happens to be.

Date Range:

• Using the calendar button or manually entering the date, you have to choose the current transaction date. then decide on an end date option.
• End on: When you use this option, you choose or enter a specified date to end the recurrence of the transaction. For example, if you wanted your transaction to recur every month starting on 4/15/11 and last for the following six months, you would set the end date to 10/15/11.
• End After: When you select this option, you enter the number of times you want the transaction to repeat. For example, you would enter 2 in the occurrences field if your current transaction date was 4/15/11 and you wanted it to repeat itself twice more.
• No End Date: The current transaction will repeat inside each time period you set when you choose this option. There is no end date, thus the transaction will keep recurring indefinitely.

Reference Numbers

• Assign Invoice Numbers: This step is optional for invoices but necessary for purchases. Enter the starting number for the recurring transactions in the Begin with number field if you are assigning invoice numbers.
• Click OK to save the information.

How to Change a Recurring Transaction in Sage 50

You can change an existing recurring entry using this process. You have the option to change one entry or the entire series.

• Select the Sales/Invoicing, Purchases, Payments, and General Journal Entries toolbar buttons at the top of the window. Select the contact first, then click the Open button under Events.
• Choose the recurring entry that has to be changed. Select the first one in the recurring series if you want to update many items.
• Change the transaction line as needed, then you have to click Save.
  You can choose whether to change simply the entry you picked or the entry you selected along with all the entries that come after it in a dialogue box that Sage 50 displays.
• At last, Click OK when you are finished.

How to Delete a Recurring Transaction in Sage 50

For all Transactions, Expect Events:

• Select the List toolbar button that is at the top of the window from most transaction windows.
• Then you have to select the recurring entry that you are going to delete and then on the list window, you have to click the Open button.
• Now you have to select the Delete toolbar button.

Sage 50 displays you with a dialogue box where you can choose whether to delete just the entry you selected or the entry and all subsequent recurring entries in that series.

• After that, you have to choose the option button of your choice.
• Click OK after completing.

For Events:

• Begin by selecting the contact and then you have to select the Open button.
• To delete select the recurring entry that you want and then click OK.
• Now you have to select the Delete toolbar button.

Sage 50 displays you with a dialogue box where you can choose whether you want to delete just the entry you selected or the entry and all recurring entries in that series.

• Choose the appropriate option button.
• Click OK when you are finished.

How to Modify a Recurring Transaction in Sage 50

If you want to modify a recurring transaction then you have to follow the below mentioned steps:

• Start by opening the relevant transaction window.
• Click the Recall Recurring Transaction button on the toolbar.
• Then you have to click to choose the recurring transaction from the list and then you have to click select.
• After that, make the changes that you want.
• Now you have to click the Store as Recurring Transaction toolbar button.
• (Optional) In the Store Recurring Transaction window, you may change the transaction’s name and frequency.

In case you don’t change the name, the revised transaction takes the place of the original one. The program creates the transaction as a new recurring transaction and keeps the existing one intact if you save the transaction with a different name.

• At last, you have to click OK.

How to Add and Store a Recurring Transaction in Sage 50

Follow the mentioned steps to add and store a recurring transaction:

• Don’t click the Process and Create a transaction as you normally would.
• Now you have to click the Store as Recurring Transaction button on the toolbar.
• Then enter a name for the recurring transaction in the Recurring Transaction box.
• After that, you have to select the frequency at which this transaction normally occurs from the list in the Frequency box and then click OK.

How to Save a Sales Invoice as a Recurring Transaction

Sage 50 allows you to set up recurring (or regularly scheduled) transactions. Do you regularly need to post an invoice, a purchase order, or a journal entry when doing bookkeeping? How to set up recurring transactions is described below. The following are among the ones that Sage 50 allows: general journal entries, paychecks, inventory adjustments, invoices, purchase orders, and quotes, other payments, sales orders and quotes, and sales invoices.

How to save a sales invoice as a recurring transaction is described below:

• Select Sales Invoice from the Home window.

• Then you have to select the Customer from the drop-down menu.

• Then, you have to choose Store as a recurring transaction (6) or press CTRL-T to complete the remaining fields for the customer invoice (1-quantity, 2-Item description, 3-price, 4-tax, and 5-account).

• For the recurring transaction (1) type a name, then you have to choose a Frequency (2), and then to save it you have to click OK (3). If you want to post it then you can process the invoice.

Conclusion

This is the end of this article; hopefully, your doubts related to the recurring transaction in Sage 50 are cleared now. But still, If you face any issues then you can connect with the team. The team is available round the clock for their users.

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