Recurring Transactions simplifies the process of regularly posting expenses to the owner's account. These transactions can be credits or debits and can be applied manually each month or the system can automatically apply on specific dates. Examples include bills for services like lawn care, pest control, pool maintenance, management fees, or any recurring charge.
Where To Go
Accounting
End of Month Process
Recurring Transactions
Creating a Recurring Transaction Item
Click on the + icon
Select the Contact also known as the Vendor rendering services
Enable 'Apply to all units?' if applicable. If not, click on the home icon to select the specific units.
Specify the Statement Date
Specify the Transaction Type
Input the Statement Description
Input the Amount and if the transaction is a debit, be sure to enter a negative symbol in front of the amount, for example, -50.00
Input the amount paid to the Vendor. Once entered and applied to the owner statements, CiiRUS can produce a report displaying margins.
Click on the Save icon to apply the changes
Process a Recurring Transaction
Click on the 'Process' icon
In the pop up window, specify the statement period and then click 'Process this Charge'
Setup Automatic Recurring Transactions
The system can automatically add a transaction to the owner's statement on the chosen day of the month, whether it's monthly, bi-monthly, quarterly, or yearly.
Click on the Field Chooser icon to open the Auto Process Settings
Enable 'Auto Process Settings' to appear on the grid
Close out of the Field Chooser
For each applicable Recurring Transaction, enable 'Process Automatically' and select the applicable months and click Save to apply the changes
Input the Statement Date for the automatic transaction, For example, enter "1" in the 'Statement Date' column to automatically process the charge on the 1st day of every month (or whatever months specified).
When the system automatically processes a transaction, it will log the date that it was last processed in the 'Last Processed' column in the table:
