Recurring Charges – Tenancy

Adding recurring transactions can be made against the

• tenancy
• owner
• contractor

Recurring Charges are used when you want to automate invoices being generated on specified dates. For example rents are created on recurring basis therefore you will want to create a recurring charge so the system automatically creates the invoice on the specified date for the specified period.

Recurring charges can either be added during the tenancy creation process or retrospectively.

1. Adding recurring charges during the tenancy creation process

Step 1: When you come to this part of the tenancy creation process > Click Add Recurring Charge.

Step 2: Once you have added a recurring charge, select the transaction type, add a description and amount. Then select the frequency at which it will be generated. Select the 'Starting on' date, which is when the Invoice will be generated on the statement. The section 'For the period, To' will dictate the period of time that this charge is related to. 'Expected Payment Date' will give some grace days until the charge becomes overdue

2. Adding recurring charges retrospectively

Step 1: Go to the Tenancy > Recurring charges

Step 2: Select Tenant then use the drop down to select which tenant this charge is related to

Step 3: Select the 'Starting on' date, which is when the invoice will be raised and the transaction will generated on the statement. Then select the frequency at which it will be generated from the drop down titled 'Repeating'. The section 'For the period, To' will indicate the period of time that this charge is related to. Ending will activate an end date for this charge.

Step 4: Then select the transaction type, add a description and an amount. If you would like to add an expected payment date this will dictate when the transaction will show as overdue.

Step 5: Click save recurring charge.

Summary of Recurring transaction features

1. This is where you select who the charge is relating to.
2. 'Starting on' is the date that the invoice will be generated on the statement. (Invoice date)
3. 'Repeating' is to select the frequency that the transaction will generate.
4. 'For the period' is for showing which period of time this transaction relates to e.g. you could have a charge generated in November for the period 1st to 31st of December.
5. 'Ending' will dictate when the recurring charge will stop.
6. 'Transaction Type' to select which charge you want to create.
7. 'Expected Payment Date' is when the charge is expected to paid (or date you usually receive payment) after this date the charge will become overdue.