Recurring Transactions

This field is an advanced option, please pay special attention to any editing, deleting or when adding these transactions.

** For instructions on how to post a recurring transaction, look below for: Posting Recurring Transactions. ** 

To view, edit or delete a recurring transaction, go to the Settings Tab > Recurring Transactions.  

Recurring Transaction - Rent Charge

*Notice* When moving a tenant in, the system will automatically create a recurring rent charge for them. It will look similar to the example below.

Recurring Transaction - Recurring Expense

*Notice* Make sure to include the property, tenant and/or bank account associated with this transaction.

In this example: this recurring expense is set up to post to the tenants ledger as additional amount owed. We have made Bank: None and Property: None, so this specific charge will only be placed on the tenant.

You have the ability to set the interval as: Weekly, Bi-Weekly, Monthly, Quarterly, or Yearly.

A common mistake is not setting the interval day correctly
. This setting sets the day in which this charge will occur.  It is important that this setting is accurate, otherwise your recurring transaction may not function as intended.    

For example: If you set the Interval to Monthly, and the Interval Day to (1), this means that you want the transaction to post on the 1st of the, the Begin Date must also be set to the 1st. The Interval Day and the Begin Date must be the same day of the day of the week or month, depending on which Interval you have selected.

Posting Recurring Transactions

To setup an automated expense for a tenant, go to the Tenants tab > click the red $ sign shortcut under the tenants balance to post an expense, choose the 'Recurring' checkbox and specify the frequency and begin date.

In the example shown below a charge for $50.00 will be posted to this tenant monthly beginning 6/1/2017 for Garbage Service. This will display as a separate line-item on their statement.    

If you find that your recurring transaction is posting on the wrong interval date it is best to delete the transaction and set up a new recurring transaction.

Note Regarding The End Date: Recurring transactions will only post up until the day BEFORE the End date. For example, if you have the Frequency set as Daily and you set the end date as 12/15/2019, the recurring transaction will stop posting to the account on 12/14/2019. On the End Date, in this case 12/15/2019, a transaction will not post and the recurring transaction will be removed from the Recurring Transactions screen.

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