Scheduled Payables |
Post Recurring Checks See Also Recurring Check Setup How to PDF document #226 Recurring Checks
There are two ways to post recurring checks. When posted thru the Recurring Checks function, each recurring check entry will generate a separate check, even if many of them are for the same vendor.
When posted through the Post Recurring Checks as Payables function, the recurring checks to the same vendor can be consolidated on one check. The transactions will be turned into invoices and then must be compiled and posted through the Invoice Checks function. When done this way, the number of items consolidated onto one check can be controlled by using the Check Limit field in the Vendor Profile.
When compiled, a list of recurring checks due through the Scheduled Through date, which were defined in the recurring check section of the unit or owner profile will appear on the screen. Each line item contains the Due Date, Payer, Payee, Amount and the Skip box. All of the fields are protected except for the amount and the Skip box. If there are insufficient funds to pay the line item it will be marked Skip when doing Recurring Checks. When doing Recurring Checks as Payables nothing is skipped since the process merely turns the Recurring Check transactions into invoices waiting to be paid.
The Edit box
Clicking anywhere on the line will allow you to edit the payment amount and will display details about the transaction. The details are protected fields.
If the amount for a line item is not correct and you wish to update the unit or owner profile where the information is stored with the new information, click the folder button to go to the profile and change the amount. If it is a one-time change in the amount just click in the amount field and enter the new amount.
If you wish to skip the check altogether, mark the Skip checkbox. The check will not be posted and will appear in the Skipped Checks folder and on the report as skipped. The next time you compile recurring check candidates these will be listed as candidates.
If you change an amount you can recalculate balances for each owner by clicking the Calculate button.
When you are satisfied with the information on the screen, click the Line Items - edit mode: Available the current balance in the owner/partnership ledger Reserve the base reserve amount set in the Owner Profile. Checks that will draw the owner balance below this amount will be skipped. They may be able to be unskipped depending on the Base Reserve and the Minimum Base Reserve settings. Minimum the owner’s base reserve if Enforce Base is checked in the profile or the Minimum Base Reserve established in Setup, Processing Defaults. Checks that will draw the owner balance below this amount will be marked Skip and cannot be unskipped. Bill Code the reason for posting the transaction Schedule based on the schedule set in the recurring check form defined in the profile (owner, unit, management group, property). Priority set in the recurring check form Before Check the balance in the owner/property ledger before the check is posted After Check the balance in the owner/property ledger after the check is posted |
above the vertical scroll bar will toggle the line item checks from view, to one line edit, to every line edit.
Post button to post the checks to the ledger. You can print the checks now or at some later time using the