If you have regular transactions for the same amount, an easy way to manage them is to set up Recurring Transactions in Farmplan Business Cloud.
For example, you may want to invoice the same customer the same amount each month or you may regularly receive the same invoice from one of your suppliers. By managing this through Recurring Transactions, this invoice will be created (and, if it is a sales invoice, can also be sent) automatically each month so you don't have to keep creating it.
How to add a recurring transaction
To add a recurring transaction, go to Tools > Recurring Transactions (as below).
You will be presented with a list of all previously created recurring transactions.
Click the green 'Add New Recurring Transaction' button to get started and enter the correct transaction type.
The different types of transactions available are:
Customer Invoice: If you bill customers the same amount on a regular basis then this transaction type can be used to automatically create (and send) the invoice each week, month or however often you wish. For example this could be used to raise rent demands to tenants.
Supplier Invoice: You may have a supplier that bills you the same amount on a regular basis. Instead of entering the Supplier Invoice each week/month you can use this to automatically add future invoices in Farmplan Business Cloud. This could be used for regular recurring bills such as council tax etc.
Adjustment: Adjustments can be used to adjust your category balances. This can be useful for regular journals such as depreciation adjustments or private farm house usage (instead of just at the end of the financial year).
Wages Adjustment: For set salaries which are the same every week/month, Recurring Wage Adjustments can be used. Simply enter the recurring amount and Farmplan Business Cloud will take care of all future adjustments. Remember to edit this when the tax rates change.
Once you select the transaction type you want to recur, you can enter the details and click 'Save and recur'. You will then be asked for the recurring transaction details such as start date and frequency.
You can pause or edit your recurring transactions at any time, so if the amounts change or you want to stop the transaction then it's no problem.
If it's a recurring customer invoice you will have the option to set up the email details to send it automatically each time it recurs. Go the ‘Email Template’ tab where you can enter the email address and optional message details. Click on the inserts to customise the details shown on the email.
Use the magnifying glass at the end of the line to view details of each recurring customer invoice including how often it has been sent.
The edit buttons will allow you to view and change the detail of the transaction or the recurrence details.
If you view the original invoice details in Transactions > Customers> View you will be able to see an audit of when the invoice is sent and viewed by the customer.
Use the magnifying glass to view further details:
NB recurring transactions are usually created between 6am and 7am (UK time) on the date that they are due.