Use this method when you're setting up a recurring invoice for the first time, without an existing invoice to base it on.
Follow these steps to create a recurring invoice template for the first time:
In CINC, go to Vendors > Recurring Invoices.
OR
In CINC with universal navigation, go to Payables > Invoices > Recurring Invoices.
The Recurring Invoice List displays. Search for and select the appropriate association.
Click New.
The Recurring Invoice Template page displays. Complete the applicable invoice information.
Note: You can leave some fields blank if they differ each time.
In the Invoice # field, enter the invoice number.
Note: This may be left blank to record each separate invoice.
In the Vendor Account # field, enter the account number the association holds with the vendor, if applicable.
In the Recurs on Day drop-down list, select the day of the month this invoice typically recurs on.
Note: This field works together with two alerts:
Recurring Invoices Due and Not Received: Triggers if the invoice hasn't been received within the number of days set in Days From Today, counting from the Recurs On Day.
Recurring Invoices Due and Not Paid: Triggers if the invoice has been received but not paid within the number of days set in Days From Today, counting from the Recurs on Day.
In the Due Date field, enter the invoice’s due date, if applicable.
Note: If Net Term Days is populated on the Vendor page, this automatically calculates once the template is used.
In the Pay To field, use the Search icon to select a vendor from the Vendor List.
OR
Type in part of the vendor’s name and click the Search icon to narrow down the list.
Click the vendor’s name to link it to the invoice.
The vendor’s name and address information populate automatically.
To unlink a vendor, click the Unlink icon to clear the vendor selection.
In the Pay From drop-down list, select the bank account used to pay this invoice. The bank account defaults to Default Bank Account for Payments, assigned on the Transaction Set Up page.
Select the payment method in the Pay By drop-down list. The default is determined on the vendor’s Payment Method page.
ACH: Requires a partner bank and additional setup to record the vendor's banking information on the Vendor’s Information page.
Check: A check is created for print and mail.
CINC VendorPay: Payment is handled through a third-party payment service.
EFT: Use this option when a vendor has already received payment electronically outside of CINC, such as via bank draft. CINC records the transaction on the Bank Account Register and GL History, but does not initiate any transfer of funds or create a check.
Note: Don’t use Bank Adjustment on this page. If you don't need to create a check or transfer money, select EFT.
In the Total field, enter the total amount of the invoice. This is used to calculate the sum of the Expense Items to prevent unbalanced invoices.
Note: If the total differs each month, leave the Total field and the GL Account at zero. The system prompts you to enter the amount each month.
In the Memo field, enter the description of the invoice as you want it to display on the check.
Note: The Copy icon copies the Memo to all expense item descriptions.
In the Note field, add a note for internal reminders regarding this invoice.
In the Expense Items section, enter the GL Account and click the Search icon.
OR
Enter all or part of the Account Name (may also display as Account Description or Item Description) and click the Search icon.
Note: You must click the Search icon to link the account to the invoice.
The corresponding matches display. Click the Account Name or Account Number to select it.
The Item Description prepopulates with the Account Name for the GL account but may be changed as needed.
OR
Click the Copy icon to insert the Memo.
Enter the amount to be charged to the GL account.
Notes:
The Amount prepopulates with the invoice total but may be changed if amounts should be divided between multiple expense items.
The Reserve icon displays for expense accounts flagged as Reserve.
The Information icon displays. Hover over it to view the Account Number and Account Name.
If you're paying the invoice from a reserve account, the expense GL account must also be a reserve account.
Repeat for any additional GL accounts.
Note: Click Add to add additional expense items.
Click Save.
The recurring invoice template displays on the Recurring Invoice List.