Recurring transactions for marketing and inventory documents means that you can set up recurring transactions for sales quotes, orders, invoices, goods receipts, purchase orders and much more.
Functionality Enhancements:
- Automatic creation of recurring transactions for marketing and inventory documents
- Ability to choose recurring cycle and end date
- Reminder for important transactions
- Link recurring transactions to service contract
Benefits:
- Easier handling of periodic documents, E.g. Quarterly invoices for service contracts, rates, fees, lease, constant replenishment, etc.
Here is how it works. In this example you have an annual contract with a customer based on a monthly rate, so you would set up a template that identifies
The Template Name, such as "Server Maintenance Cost"
The Transaction Type, such as "A/R Invoice"
The Recurrence Period, in the case "Monthly"
The Start Date of 01/01/2011
The Valid Until Date of 12/01/2011.
When you execute the transaction, 12 invoices will be triggered during the year, so an invoice will be generated in January, February, March, April, etc.