Account Recurring Charge Details

Account Recurring Charge Details

Purpose

To setup a standard amount that will be charged at regular intervals to an account. The most common example is an account management fee. Another use may be to add an extra charge to an account such as cost per copy charges on a photocopy lease account.

Timing

  1. Setup at the Quote or Account creation stage
  2. Can be setup retrospectively with the original start date
  3. Running the Post Account Recurring Charge Process will then post the charges from the start date to today

Access

  1. Access Account |  |  | 
  2. Access Quote |  |  | 
  3. Account | Edit/View Account Recurring Charges

Dialog Details


Details Specific Fields

Field
Explanation
Code
This will become the account transaction reference on posting of the recurring charge
Description
This will become the account transaction Description on posting of the recurring charge
Frequency
The Frequency of the Recurring Charge

This is usually the same frequency as the instalments 
Day
Enter the day if required

Will be 31 if the recurring charge is monthly to post of the last day of the month
Remaining
On setup, this is the total number of Recurring Charges to post. This is usually the same as the number of instalments.

Once a Recurring Charge has posted, this will show the number remaining
Posted
Display only field

Will show the number of recurring charges posted
Start Date
The first date the Recurring Charges is to post

This is usually the first instalment date
Next Date
On setup this should be the same as the start date

Once a Recurring Charge has posted, this will show the next due date
Projected End Date
This is the last date a Recurring Charge will post, based on the start date, remaining count and frequency
Active
Note: Recurring Charges will not post if they are inactive
From Transaction Type
[F2] and  the transaction type that will be used to post the Recurring Charge.

This must be setup with the module that will be related to the From Account below
From Account
When accessed from an Account dialog this is pre-filled with the account

When accessed from the Quote dialog, this should be left blank. Will be filled with the account when the quote is made into an account
Amount
Enter the amount that will be charged here
Add Taxes
Check on this box if GST should be added to the amount
To Transaction

This allows the same amount (with an opposite sign) to be posted to the selected account

Example:

A Lease Account attracts a monthly cost per copy charge which is to be credited to a Dealer. The Lease account would be selected as the From Account, and the Dealer would be selected as the To Account.
To Transaction Type
[F2] and  the transaction type that will be used to post the Recurring Charge.

This must be setup with the module that will be related to the To Account below

It is recommended that when the From/To recurring charge functionality is being used that both Transaction Types post to a GL Clearing code
To Account
Account the transaction will be transferred to
DC Reference
Used for transfers to Dealer Accounts

Where this is populated, this will become the transaction reference

When the Dealer payout process is run, this transaction reference is used in the creation of the direct credit file

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