Transactions - Recurring

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Distribution

AR Administrator^*

AR Billing Specialist^*

AR Billing Specialist-Remote^*

AR Manager^*

Related Procedures

Transaction - Creating

Ownership

The AR Manager is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

IS Receivables
N ® Transactions ® Copy Transactions
Copy Transactions

Use the Copy Transactions form to copy or create recurring transactions for products and services sold on a regular basis. A model invoice is used to copy a series of invoices that will be used in future periods to record transactions.

The Copy Transactions form opens in the query mode to help search for the existing transaction to be used as the model for the recurring transactions. Once the model transaction is found, all information in the Model Transaction region defaults from the original transaction.

Choosing Model Transaction

1. Search for the model Transaction.

Press [F11] or click View -> Query -> Enter.
Enter the search criteria in the Trans Number field.

The model transaction should be the transaction that exactly (or most closely) matches the new transaction(s) to create.

The model transaction to be used must have a “complete” status to appear.

Once the transactions are copied, changes to the model transaction do not affect the copied transactions.

2. Press [Ctrl-F11] or View -> Query -> Run.

Determining Transaction Schedule

3. Complete the Schedule region.

Rule field.

Select the Rule from the drop down list. The Rule field determines time frame for the transactions.

Number of Times field.

Manually enter the Number of Times. The Number of Times field sets number of times the transaction will occur based on the Rule field.

Number of Days field.

Manually enter the Number of Days. The Number of Days field is only available if "Days" is chosen for Rule field.

First Transaction Date field.

Select from the LOV. The First Transaction Date field sets when the transaction will be created.

First GL Date field.

Select from the LOV. The First GL Date field sets when the transaction will be posted to the General Ledger.

Request ID field.

Automatically generated.

4. Save the record [Ctrl-S].

The recurring transactions will show in the New Transactions region:

Transaction Number: Shows what the Transaction number will be.
Document Number: Not used. Used for manually numbering invoices.
Trans Date: Shows what the Trans Date will be. The Trans Date may be edited.
GL Date: Shows what the GL posting date will be.
Due Date: Shows what the Due Date will be.
Amount: Shows what the Amount will be.

IS Receivables determines the date and frequency of the copied transactions, using the rule, first transaction date, and number of times specified.

The recurring schedule cannot be updated after it has been saved.

IS Receivables creates all recurring invoices at one time.

Any transactions created in an open GL period will automatically "complete." Any transactions in future periods will require opening the transaction and clicking the [Complete] button.

5. Determine if you need to send documentation along with the transaction to the customer.

If documentation must be sent to the customer along with the transaction, goto task #6. Otherwise, goto task #7.

6. Forward any documentation to Accounts Receivable.

Forward a hard copy of the document(s) to Accounts Receivable prior to the Transaction date.

The following information must be included to ensure proper identification of the transaction(s):

Customer Name
Customer Location
Transaction Number
Transaction Date

Maintaining Recurring Invoices

7. Use the Transactions workbench to maintain the recurring invoices.

If the GL Date is in a future period that is not open, you will need to complete the transaction by opening it and clicking the [Complete] button once the period is open. Otherwise, the transaction will not be posted to the General Ledger nor will it be printed and mailed.

Effective: 08/17/05

Revision: 3 mr

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