Recurring transactions

To simplify day-to-day manual transaction entry activities where you need to create the same transactions at particular frequencies, you can use the recurring transaction feature. You can configure a recurring transaction with the content of a template: a transaction will be created according to the selected frequency at the specified time upon confirmation.

If your manual transaction entries do not follow a frequency, you can also use the template feature.

In the recurring transaction list screen, you can:

• Filter the list to view a more restricted list of recurring transactions or perform a search.

• Create a new recurring transaction. For more details on how to create a new recurring transaction, please refer to the section: Recurring transaction creation.

• Reload the table content by clicking on the Refresh button.

By clicking on a specific recurring transaction from the list, you can:

• Display the entire history of the selected recurring transaction. All changes made to the recurring transaction since its creation are listed with the corresponding dates and the identity of the modifier.

• View all recurring transaction configuration details.

• Duplicate the selected recurring transaction. All the information of the selected recurring transaction is pre-filled in the new recurring transaction creation screen except the name which is a unique field.

• Edit the information of the selected recurring transaction.

From the Actions button drop-down, you can do the following operations on multiple recurring transactions simultaneously:

• Select all recurring transaction checkboxes.

• Unselect all recurring transaction checkboxes.

• Bulk edit the selected recurring transactions. Only Amounts and Next execution date fields are editable in the bulk edit pop up.

• Approve or Reject the selected recurring transactions in status To review.

• Activate or Deactivate the selected recurring transactions.

• Delete the selected recurring transactions. A confirmation dialog will be displayed. This action is final, please perform it with caution.

• When you create a recurring transaction, the default status is Inactive and To review. After the approval the recurring transaction become Approve and Active.

• After the editing a recurring transaction, the value available on View will not reflect the change just made. The status will change from Approve to To review because the recurring transaction needs an approval to apply the changes.

• All recurring transactions will be deleted after 1 month of inactivity, this means 1 month after deactivation.

Select the organization to which the recurring transaction will apply and click on Create.

When creating a new recurring transaction, you need to specify all of the following fields:

• The name of the recurring transaction so you can easily find it.

• The template that is associated with the recurring transaction. All transaction information needs to be filled in the template.

You need to make sure that all mandatory fields are filled in for the chosen template to allow the transaction to be processed successfully.

• The start date and start time of the recurring transaction based on a specific timezone: the first transaction will be created in accordance with this configuration.

• The expiry date of the recurring transaction. This is an optional field. If it is filled in, the creation of transactions will be carried out until that date inclusively.

• The frequency of the recurring transaction:

  • Annual - Transactions will be created every year.

  • Semi-annual - Transactions will be created every 6 months.

  • Quarterly - Transactions will be created every 3 months.

  • Every 2 weeks - Transactions will be created every 2 weeks.

  • Weekly - Transactions will be created every week.

  • Scheduled - You can select specific dates of a month separated by a comma (for example 1,7,14,21)

If you select a scheduled frequency on the day number 31, no transaction will be created if a month has less than 31 days.

• The instructed amount and/or equivalent amount of the recurring transaction.

Currencies fields are filled from the selected template information.