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.
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 month...so, 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
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.