Relookup Item Price when transaction recurs

Software: MoneyWorks #accounting software

The recurring transaction helps automate the data entry. For example, you may have monthly recurring general journals such as depreciation of a fixed asset or prepayment, or a maintenance contract which you invoice the customer on a monthly basis. The transaction will recur, duplicated automatically, when you open the document (the company file) on or after the “Next Recurring On” date.

You can have a recurring Sales Invoice, Purchase Invoice, Payment, Receipt or a General Journal. Check the “Make Recurring” checkbox of a transaction, set the parameter and start the recurring process.

When a recurring transaction uses an item instead of account, by default, it will pick up the unit price and description from the item profile. For example, if you have set the item selling price as $100, the unit price of a recurring sales invoice will pick up $100 automatically.

If you have a unique item description or amended unit price for a recurring invoice, you have to disable the “Relookup Item Description” and “Relookup Item Price” from the “Startup” tab of the Document Preferences. By unchecking the “Relookup” checkbox, it prevents MoneyWorks from picking up the description and price from the item profile.

Recurring transaction

The recurring process in MoneyWorks accounting software helps improve the productivity of an accountant and bookkeepers — a simple accounting solution that produces a great result.

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