Working with 3-Accounts Receivable > 3-11 Recurring Receivables > Setting up recurring receivable transactions in 3-11 Recurring Receivables

Setting up recurring receivable transactions in 3-11 Recurring Receivables

To set up a recurring receivable transaction:

1 Open 3-11 Recurring Receivables.
2 Enter header information for the recurring receivable as follows:
a In the Job text box, enter the job number.
b If the job uses phases, enter the phase number in the Phase text box.
c In the Description text box, enter a brief statement about the transaction.
d In the Next Date text box, enter the next date when the transaction needs to post.
e In the Cycle text box, enter the transaction cycle.

In Sage 100 Contractor, a cycle is represented by ##DY (a number of days), ##MO (a number of months), and ##TH (a specified day every month). You replace the ## symbols with the number of days or months, or the day of the month for the processing cycle. For example:

  • 30DY means due every 30 days.
  • 02MO means due every two months.
  • 25TH means due on the 25th day of each month.
f In the Due Terms text box, enter the cycle for the date when the invoice is due.
g In the Discount Terms text box, enter the cycle for the date by which the vendor must receive payment for the discount to apply.
h In the Status list, click the invoice status.
i In the Type list, click the invoice type.
3 Enter item lines for the recurring receivable in the grid. For each item:
a In the Description cell, enter a brief statement about the line item.
b In the Quantity cell, enter the quantity purchased.
c In the Price cell, enter the price per unit.
d In the Account cell, enter the ledger account.
4 On the File menu, click Save.

Links to more information . . .

Posting single recurring transactions in 3-11 Recurring Receivables

Posting groups of recurring transactions in 3-11 Recurring Receivables

More resources

For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.

For additional training on Sage products, visit Sage University.