Recurring Operating Expense Window
|Top Previous Next|
The Recurring Operating Expense Window allows the user to enter all the pertinent information regarding the Recurring Expense. Information such as the Invoice Date, Due Date, Vendor Payable Notes, etc. which may vary from payment to payment can be entered when the Recurring Expense has been imported as an active Operating Expense on the New Vendor Payables Grid of the Vendor Deposits, Invoices, and Operating Expenses Window - New Tab.
Vendor: This field displays the Vendor for which the Recurring Expense is being created.
Invoice Number (Inv. #): The invoice number, if available, should be entered into the Invoice Number field. If the invoice number is not known or not applicable, enter the company account number with the Vendor or a descriptive phrase such as "Monthly Rent". The Invoice Number cannot, however, be left blank.
Transaction Description (Trans. Desc.): This is an optional field which allows the user to enter a brief description of the Recurring Operating Expense.
Recurring Operating Expense Distribution Grid: The Recurring Operating Expense Distribution Grid displays the Expense Account Distributions that comprise the Recurring Expense. The grid has the following columns:
Discount: The Discount field shows any cost reduction offered from the Vendor for early payment, if available. The Discount will automatically be calculated if a Discount Percent has been entered on the Vendor Window - Defaults Tab. Please note that the Discount does not reduce the expense amount! The discount will reduce the amount of the Check, Hand Check/Wire Transfer or Credit Card payment when paying the Vendor.
Days To Take: This is the number of days from the Invoice Date that payment must be made in order to receive the Discount from the Vendor.
Reminder: The Reminder button allows the user to create a To Do List Task in order to set a Reminder on the To Do List Tasks and Appointments Window to pay the Recurring Operating Expense. The To Do List Task Window will have the Subject set to "Make Payment - <Transaction Description from the Recurring Expense>". The Reminder option will be selected, the Contact Type will be set to Vendor, and the Code will be defaulted to the Vendor from the Recurring Expense. For more information on Reminders and To Do List Tasks, see To Do List Tasks and Appointments.