Table of Contents
About recurring transactions in Reckon One
Learn about recurring transactions in Reckon - why you'd want to use them, the different types, and how they work.
About recurring transactions
A recurring transaction saves the details of a transaction (such as the contact, line items and notes from an invoice, bill, payment, receipt or journal) so you can create regular or predictable transactions easily without having to type in the same details every time. We sometimes call recurring transactions 'templates' or 'recurring templates', because they aren't real transactions. They are templates from which transactions can be created either automatically or on demand (depending on your plan).
You can set up recurring transaction templates for invoices, bills, payments, receipts and journals.
There are 2 types of recurring transactions - scheduled (available on all accounting plans), and unscheduled (available on Accounting Premium and Reckon Ultimate plans only).
- A scheduled recurring transaction gets created for you automatically on a timetable you set. You tell Reckon One how often, when to start, and when to finish, and it automatically creates the transactions for you (with the option to skip when needed).
- An unscheduled recurring transaction is there for you to use on demand, and has no timetable. Reckon One holds onto the details and waits. When you want to create a transaction using the recurring template, you open the template and and create your transaction.
What data is saved in recurring templates
A template holds the transaction's header and its line items:
- Contact, reference, classification, payment terms, notes and tax settings
- Every line-item or account, description, quantity, unit price, discount and tax code
- Attachments (for invoices only)
It deliberately doesn't save anything date-driven or anything Reckon One generates. The transaction date, the due date, the transaction number, the payment status and amounts outstanding are all worked out when you create the transaction, not when you save the template. That's why an unscheduled template has no date fields on it - there's nothing to put in them.
Read more
- Learn how to set up a recurring transaction in Reckon One
